Intel has given a major boost to Hong Kong’s much-hyped $1.67bn Cyberport project by pledging to invest $50m in Pacific Century Cyberworks, the listing vehicle being created by project developer, the Pacific Century Group. The investment is the largest in Asia to date by Intel’s Corporate Development Group.
Intel will also amalgamate the companies’ other joint venture, Pacific Convergence Corp (PCC) with Pacific Century CyberWorks, which will result in Intel holding a 13% stake in Pacific Century CyberWorks. Our goal with these agreements is to speed the deployment of broadband internet-based services to Asia, said Claude Leglise, general manager of Intel’s Home Products Group.
