[ET Net News Agency, 3 July 2020] China Power International Development Limited (02380)
said Guangxi Company (a wholly-owned subsidiary of the company) has entered into a joint
venture agreement with Jilin Electric, CEC and Sinohydro B11. The parties agreed to form a
joint venture in Nanning, Guangxi Zhuang Autonomous Region of the PRC.
The registered capital of the joint venture is RMB1.3 billion, which shall be
contributed by Guangxi Company, Jilin Electric, CEC and Sinohydro B11 for the amount of
RMB520 million, RMB455 million, RMB260 million, and RMB65 million respectively,
representing 40%, 35%, 20% and 5% of their respective equity interest in the joint
venture.
Guangxi Company will make contribution to the joint venture by way of asset injection
and cash.
The joint venture will serve as an investment platform in the ASEAN region that focuses
on clean energy investment and development. (RC)
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03/07/2020 15:04
China Power (02380) unit to set up joint venture
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