Chinese investor nears land deal in Iceland?

Chinese media is reporting that a local investor and Chairman of Zhongkun Investment Group Huang Nubo has been told that a revised deal would allow his plans to build a holiday resort in the Northern European country of Iceland. Last November his attempt to purchase a 300 square kilometre piece of land in the north of the country was thwarted by the government of Iceland. The reports state, that the new arrangement would involve a rental deal, instead of an outright land purchase. Chinese Premier Wen Jiabao recently went to Iceland to talk cooperation between the countries.