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China Huadian plans $14.7 bln energy projects in Xinjiang

Originally published by Reuters, 30 June 2010 
 

BEIJING June 30 (Reuters) – China Huadian Corp, one of the country’s five major state-owned power generating groups, plans to spend more than 100 billion yuan ($14.71 billion) in the coming 10 years to develop coal, power and other energy projects in Xinjiang.

The move comes weeks after rival China Huaneng Group committed a similar investment in China’s northwest, home to vast untapped deposits of coal and other resources.

China Huadian would develop coal-fired power stations, coal to chemical plants, clean energy, urban power and thermal projects and major hydropower bases in Xinjiang, the company said in a report on its website (www.chd.com.cn), citing a recent deal signed with Xinjiang’s government.

The parent of Huadian Power International Corp Ltd (1071.HK) (600027.SS) aims to build 15 gigawatts (GW) of installed generating capacity, 50 million tonnes of annual coal production capacity and 6 billion cubic metres of coal to gas capacity in Xinjiang by 2020.

China in May unveiled a plan for developing Xinjiang, an energy-rich region bordering central Asia that is home to Uighurs, a Muslim, Turkic-speaking people who often chafe at rule from Beijing and at the influx of Han Chinese. [ID:nTOE64J09I]