Goodman Group
(ASX:GMG) and the Canadian Pension Plan Investment Board have agreed to expand their China Partnership by a further $545 million, according to media reports.
Canadian Pension Plan will cover 80 per cent of the additional funds.
That brings the total commitment by the two parties to $1.5 billion, since forming their partnership in 2009 to invest in logistics sheds across China.
CEO Greg Goodman told media the extra funds will help grow its China platform via a number of development projects.
Goodman Group delivered a net profit of $165.7 million in the first half of the 2013 financial year.
