Hydropower firm eyes rival
By Wang Yu | China Daily | Updated: 2007-02-15 07:03
China's leading hydropower operator is preparing to buy a stake in a local counterpart in an effort to diversify and enhance its long-term development.
According to a public statement to the Shanghai Stock Exchange yesterday, China Yangtze Power Co plans to buy a 45 percent stake in Hubei Provincial Energy Group Co for 3.1 billon yuan.
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Workmen pass along a walkway while water pours from sluices on the Three Gorges Dam. China Yangtze Power Corp, the operator of the hydropower project, said it plans to buy a 45 percent stake in the Hubei Provincial Energy Group Co for 3.1 billion yuan. The move will diversify Yangtze Power's power-generating structure. Qing Cao/ImagineChina via Bloomberg News |
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