Dahua Jixian raised the target price of Minmetals Construction (0230.HK) from HK$3.65 to HK$3.81, maintaining its buying rating. According to some sources, the company agreed to acquire a plot of land in Hebei through the formation of a joint venture with 50% equity, at a maximum cost of RMB 5.21 billion; this is only a preliminary statement of cooperation. Minmetals said that the cost of acquiring this plot of land is between RMB 2664 million and RMB 5.21 billion, depending on the final size of the plot of land. Dahua Jixian said that according to Minmetals management, this plot of land is located in Xianghe County, Langfang City, Hebei Province, about 45 kilometers from central Beijing; the bank added that construction of the Beijing-Tianjin-Tang high-speed train project is scheduled to begin in 2010 and will be completed in 2013. Xianghe is one of these stops, and it only takes about 15 minutes to reach Beijing. Dahua Jixian believes that with the improvement of transportation infrastructure and the ability to reach Beijing more easily, there is a lot of room for this land to appreciate. Trading of the stock resumed today; before the suspension, the stock price was HK$2.22.