TYCOON Li Ka-shing has signed an agreement with Guangdong province to build a coal-fired power plant in Zhuhai, the special economic zone next to Macau.
The first phase of the project, involving an investment of US$1.18 billion, consists of two sets of 660,000-kilowatt generators and is expected to be completed and in operation by 1995.
Cheung Kong (Holdings), Hutchison Whampoa and Bright World Enterprise together hold a 45 per cent stake in the project.
The remaining 55 per cent is owned by the Guangdong Electricity Group and the Zhuhai Special Economic Zone Power Development Corp.
Under the plan, the total capacity of the power plant will be 3.72 million kilowatts and total investment will reach $3 billion.
The plant is said to be the first of its kind to be built through co-operation between Guangdong and Hongkong.