Sembcorp to take stakes in 2 Chongqing power plants
SINGAPORE – Sembcorp Industries said today (Sept 15) it will more than double the size of its energy business in China, following a deal to jointly develop a massive coal-fired power plant in the western part of the world’s most populous nation.
SINGAPORE – Sembcorp Industries said today (Sept 15) it will more than double the size of its energy business in China, following a deal to jointly develop a massive coal-fired power plant in the western part of the world’s most populous nation.
Under the conditional agreement, Sembcorp and Chongqing Songzao Coal and Power will develop a 1,320-megawatt coal-fired power plant that is expected to be one of the most efficient power plants in the Chinese municipality of Chongqing. The Singapore firm will also buy a 49 per cent stake in an adjacent 300-megawatt plant.
The addition of the two plants will boost the Singapore firm’s power capacity in China from 987 megawatts to 2,607 megawatts.
Sembcorp said the entire project will cost approximately 6 billion yuan (S$1.2 billion), and that the 1,320-megawatt plant is likely to be completed in 2017.
CHANNEL NEWSASIA
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