Power proposal for Zhejiang

PUBLISHED : Thursday, 25 June, 1998, 12:00am
UPDATED : Thursday, 25 June, 1998, 12:00am

Zhejiang Southeast Electric Power has proposed investing 440 million yuan (about HK$409 million) in a power project based in the eastern province of Zhejiang. The board proposed forming a joint venture with three other companies to invest a combined 805 million yuan in an expansion project at the Changxing Electric Power Plant, the company said. The investment would give Zhejiang Southeast Power, which has hard currency B shares listed in Shanghai, a 55 per cent stake in the project. The other three companies were Zhejiang Provincial Electric Development, Longyuan Electric Power Group and Huzhou Electric Development, it said.