Shanghai

BILLIONAIRE Wang Jianlin's Dalian Wanda Group Co agreed to spearhead a US$10 billion project to build an industrial park in India, in what could become one of the biggest development projects in the country.

Wanda Group, China's biggest commercial-property developer, signed a preliminary agreement with the northern Indian state of Haryana to build an industrial zone, the company said in a statement on Friday. The first phase of "Wanda Industrial New City", whose construction may begin this year, will span 13 square kilometres and house companies in industries ranging from software to cars and health care, it said.