CRE parent, CITIC Pacific in talks on Shaanxi power plant, tunnel investments

HONG KONG (AFX-ASIA) - Shaanxi provincial governor Cheng Andong said China Resources Enterprise parent China Resources (Holdings) and CITIC Pacific Ltd are in talks with the province on power plant and tunnel project 

investments.

Cited by the Hong Kong Economic Journal, Cheng said China Resources (Holdings) is likely to sign an agreement to take a 51 pct stake in the Bojishan power plant next month.

Cheng did not say how much money this investment could involve.

Cheng said CITIC Pacific is interested in taking a stake in a tunnel project which will connect Qinling and Xian.

He said the tunnel project, to cost 2.5 bln yuan, is scheduled to be completed in 2005.

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