(Updates to correct that China State Construction International's indirect unit is participating in the bidding)

China State Construction International Holdings (HKG:3311) said its indirect wholly owned subsidiary, Putian Haiyue Construction, entered into an agreement with China Construction Jiahe Real Estate to jointly bid for a land parcel in Fuzhou.

Putian Haiyue and China Construction Jiahe will participate in the bid with contribution ratios of 80% and 20%, respectively, according to a Tuesday Hong Kong bourse filing.

The required bid deposit totals 153.2 million yuan, of which Putian Haiyue will contribute 122.6 million yuan and China Construction Jiahe 30.6 million yuan.