Construction started Friday on what will be the tallest building in downtown Shanghai, Shimao International Plaza, designed to tower 333 meters over the city's busiest street, Nanjing Road.

The project involves a total investment of 3 billion yuan (US$ 361 million).

According to the city's development plan, it will take a decade for Nanjing Road to be renovated so as to attract world-leading brands and retailers.

Located in the west end of the road and covering an area of 140, 000 square meters, the 60-floor skyscraper has three floors underground. Nine stories are for a shopping mall, 48 for a super five-star hotel and three for exclusive clubs.

The project is set for completion in 2004.

( People's Daily December 29, 2001)