China Evergrande invests in project to build world's fastest supercomputer

FILE PHOTO: A logo of China Evergrande Group is displayed at a news conference on the property developer's annual results in Hong Kong, China March 28, 2017. REUTERS/Bobby Yip/File Photo

HONG KONG (Reuters) - Property developer China Evergrande Group on Thursday said it will invest 1.65 billion yuan ($239.53 million) into six high-tech projects by the Chinese Academy of Sciences, including one aimed at building the world’s fastest supercomputer.

The other projects involve artificial intelligence, surgical robotics, unpiloted aircraft, health engineering and graphene. Together, the six projects have a current value of 4.6 billion yuan, Evergrande said in a statement.

The investment is the first from a total 100 billion yuan that Evergrande agreed with the academy to inject into high-tech sectors earlier this year.

Evergrande Chairman Hui Ka Yan first announced in March that the property developer would explore opportunities in high-tech sectors to drive growth.

It set up a subsidiary in April focusing on high-tech agriculture.

($1 = 6.8885 Chinese yuan renminbi)

Reporting by Clare Jim;; Editing by Christopher Cushing