Guangdong Yudean Group Company has once again joined hands with Hong Kong based Cheung Kong Infrastructure Holdings Limited.
The two sides will jointly develop the second phase of Zhuhai Jinwan Power project, which is reportedly to be largest joint venture power project in Guangdong Province and involves a total investment of RMB6.8 billion.
According to the agreement, GYGC and Zhuhai Special Economic Zone will jointly hold 55% of the project's stake, and CKI the remaiing 45%. The project is estimated to be completed around 2010 when its total capacity will reach 3.2 million kilowatts.
The parties' cooperation on the first phase of the project was formally put into operation in February this year, and by the end of September, it has generated a total of 5 billion kilowatts of electricity and reportedly paid over RMB160 million in taxes to the State.
Formally set up in May 2003, GYGC is mainly engaged in electric investment and construction, power generation, power selling and related services.
CKI is one of the largest listed infrastructure companies in Hong Kong with diversified investments in energy infrastructure, transportation infrastructure, and water infrastructure.
