Energy

Huadian to acquire Heilongjiang power company

(Agencies)
Updated: 2010-07-15 09:38

Huadian Energy Co plans to pay 389.4 million yuan ($57.47 million) to acquire a Chinese power company in the northeastern province of Heilongjiang from Qiqihaer Xinbao Heating & Power Co and Singapore-based Asia Power Corporation Ltd, according to a statement to the Shanghai Stock Exchange.

Related readings:  China Huadian plans $14.7b energy projects in Xinjiang  Power firms bleed from high costs  China's power consumption rises 14.14% in June  Heat wave sends power generation to new high

Huadian expects a 148 million yuan loss in the first half on a surge in coal prices, the Chinese electric company said in a separate statement.