Datang forms coal JV
Source: Xinhua |
May 26, 2010, Wednesday
|
Print Edition
Print Edition
DATANG International Power, the Hong Kong-listed unit of State-owned power generator China Datang, has said it would invest 3.93 billion yuan (US$576 million) to set up a joint venture for a coal-based gas project in north China's coal-rich Inner Mongolia.
In a statement filed to the Hong Kong stock exchange late Monday, Datang International Power said its wholly owned subsidiary, Energy and Chemical Co, contributed 51 percent of capital to form the coal-based gas company to build and operate the gas project.
Beijing Gas Co, China Datang and Tianjin Jinneng will contribute 34 percent, 10 percent and 5 percent of capital, respectively.
The coal-based gas project, located in Kesheketeng Qi, Inner Mongolia Autonomouse Region, has an output of 4 billion cubic meters of natural gas per annum.
China Datang has a controlling stake of 35.08 percent of Datang International Power, according to the statement.
In a statement filed to the Hong Kong stock exchange late Monday, Datang International Power said its wholly owned subsidiary, Energy and Chemical Co, contributed 51 percent of capital to form the coal-based gas company to build and operate the gas project.
Beijing Gas Co, China Datang and Tianjin Jinneng will contribute 34 percent, 10 percent and 5 percent of capital, respectively.
The coal-based gas project, located in Kesheketeng Qi, Inner Mongolia Autonomouse Region, has an output of 4 billion cubic meters of natural gas per annum.
China Datang has a controlling stake of 35.08 percent of Datang International Power, according to the statement.
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