(Yicai Global) Dec. 27 -- Shanghai Construction Group has won a contract to design and build the world's largest indoor snow center in the Lin-gang Special Area of China Shanghai Pilot Free Trade Zone, the latest extension to the Shanghai FTZ.

The local firm and Lin-gang's management committee penned the deal on Christmas Day, Shanghai Observer reported the same day. The snow center, named Ice Star, is set to open to the public in 2022.

Shares in the company [SHA:600170] were largely unmoved by the announcement, sitting at CNY3.50 (50 US cents) as of 10.07 a.m. today, just a 0.5 percent rise since it signed the deal.

Shanghai Construction Engineering is already working on 54 projects in Lin-gang worth CNY23 billion (USD3.3 billion), including Tesla's first overseas Gigafactory and the Shanghai Planetarium and facilities for marine and aerospace engineering.

Editor: James Boynton