Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Huaneng Power buys ports and ships

Qingdao: China's Huaneng Power is fast expanding its footprint with big investments outlined at the start of this year. The electricity giant is spending 8.625 billion yuan ($1.26 billion) to buy stakes in power and port operators. Huaneng said it would buy the stakes in nine Chinese firms in Yunnan and Fujian provinces from Shandong Electric Power Corp and Shandong Luneng Development Group Co Ltd in a deal to be settled in cash.?It will also receive stakes five vessels each with shipping capacity of 20,000 tons for domestic coal trade. Huaneng will take 100% stakes in two ports: Fujian Luoyuanwan Luneng Harbour in Fuzhou and Qingdao Luneng Jiaonan Port.  [05/01/10]

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish