Merger of energy firms will help clear Beijing's skies
The government said on Monday that it had merged Beijing Energy Investment Holding Co and Jingmei Group into a new 200 billion yuan ($32 billion) business in line with its policy to improve efficiency in the energy industry and reduce pollution.
The merger of Beijing Energy and Jingmei, a coal supplier based in the capital, will improve electricity supply, said Lin Fusheng, head of Beijing's Assets Supervision and Administration Commission. He was quoted by the official Xinhua News Agency.
The merger took place on Sunday, Beijing Energy, which invests in electricity projects, said on its website. The new company, Beijing Energy Group Co, will manage coal-fired power plants, renewable energy projects, heating supply and coal mine development, Xinhua reported.
