The story appears on

Page A14

November 3, 2011

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Energy

Energy JV to tackle volatile coal prices

CHINA Power International Development Ltd and China Coal Energy Co have agreed to invest 4.98 billion yuan (US$784 million) to form a joint venture as part of a strategic alliance amid volatile coal prices.

The joint venture will invest, build and operate coal-fired power plants, China Power, the listed unit of one of the country's top five state power producers, said in a statement yesterday.

China Power will contribute 80 percent of the venture's registered capital of 1 billion yuan and China Coal will provide the balance.

The venture, whose name was not disclosed, will acquire two 660-megawatt power generating units from China Power's wholly-owned Shentou I Power Plant in Shanxi Province, the statement said.

China Coal, the country's second-biggest coal producer, will supply coal to the venture "at a favorable price compared to the prevailing coal price supplied to the power plants of the five largest national power generating groups in the same region," the statement said.




 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend