Drogba's former Chelsea teammate Nicolas Anelka made the switch in January, joining Shenhua on a two-year deal.
The two largest holdings in the fund are Hong Kong-listed shares of China Shenhua Energyand China Coal Energy.
It will have 24% of the project, with China Shenhua Energy at 40% and a Russian-Mongolian ventures at 36%.
At last I have to say that the club owner Zhu Jun did his utmost to bring Drogba to Shenhua.
Reports have also linked Shenhua with another veteran Chelsea striker, Didier Drogba -- a target of Chinese rivals Dalian Aerbin.
During their time with Shenhua, Drogba and Anelka could only help the team finish ninth in the 16-team Chinese Super League.
Shenhua, who also signed Drogba's former Chelsea teammate Nicolas Anelka, were found guilty of fixing a game against Shanxi Guoli during the 2003 season.
Sinopec rose 1.1% to CNY7.66 and Shenhua advanced 0.8% to CNY27.10, likely helped by the stock purchase programs conducted by their parent companies, said analysts.
Shenhua were one of 12 clubs involved, along with 33 individuals.
Meanwhile, Shenhua owner Zhu Jun said last week that former France international Jean Tigana will become the club's new coach, according to the Shanghai Daily website.
Conca has since been joined in China by former France striker Nicolas Anelka, who, after a prolific career across Europe, swapped Chelsea for Shanghai Shenhua in January.
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Shanghai Shenhua have been stripped of their 2003 league title.
But Shenhua owner Zhu is confident Drogba can have a positive impact on results as he seeks his first title since taking over in 2007 -- and the club's first since 2003.
An exception was the Shanghai Composite index, which ended the day 1.8% higher, largely due to a surge in the value of energy companies, including a 10% jump in China Shenhua Energy Company.
General Electric is part of several announced deals, including a project to expand high-speed rail in the U.S. using Chinese technology and a joint effort with Shenhua Gasification to building clean energy generators.
Now 33, Anelka briefly worked as a player-coach at Shenhua following the dismissal of coach Jean Tigana but is now looking to play in Serie A for the first time in his career.
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