Israeli power deal

AN Israeli company has signed a letter of intent to help China build a 4,000 megawatt power plant in Jiangsu province, according to Xinhua (the New China News Agency).

The Lusi port power plant, the largest of its kind in Jiangsu, will be built with a joint investment of US$2.15 billion.

Construction of the power plant is due to begin in 1998 and to be completed by about 2003. Two 1,000 Mw generators will be installed in the first phase of construction.

The letter of intent was signed between the Jiangsu Provincial Power Company and the Israel United Development Corp, Xinhua said. It gave no further details.