Beijing Datang to raise Yunnan Kaiyuan stake to 70 pct from 15

HONG KONG (AFX-ASIA) - Beijing Datang Power Generation Co Ltd said it has agreed to raise its stake in Yunnan Kaiyuan Power Generation Co Ltd to 70 pct from 15 pct.

In a statement, Beijing Datang said it will contribute 376.6 mln yuan to the registered capital of Kaiyuan Power Generation through its internal financial resources.

Beijing Datang said Kaiyuan Power Generation focuses on the development of the Yunnan Kaiyuan power plant, which will comprise two 300 MW coal-fired generation units.

Construction of the project is expected to begin in 2002 and the two coal-fired generation units are expected to be completed in 2004 and 2005 respectively, Beijing Datang said.

Beijing Datang said Yunnan province is adjacent to Vietnam and other Southeast Asian countries and the investment in the area will strengthen Beijing Datang's position to supply electric power to these countries through Yunnan in the future.

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