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Huaneng Power sets 2009 capital expenditure of 33b yuan

(Agencies)
Updated: 2009-04-02 14:53

Huaneng Power International Inc, China's largest electricity provider, said on Thursday it plans capital expenditure of 33.1 billion yuan ($4.84 billion) for 2009.

Related readings:  Costlier coal hits Huaneng hard  BOC lends $99.45m to Huaneng in acquisition loans  Huaneng gears up nuke plant  Shenhua cuts 2009 capital expenditure by 16%

The company had said in its earnings statement for 2008 that it expects to have significant capital expenditure in coming years, focusing on thermo-power projects, as it tries to pave the way for its long-term growth.

Capital expenditure last year was 27.99 billion yuan, which was mainly used for construction and renovation projects.

Chairman Cao Peixi also told a media briefing on Thursday the company hopes coal contract prices this year will remain at their 2008 levels.