China Resources Power (CRP), a unit of China Resources Group, has confirmed it is to invest 1.8 billion yuan to set up a joint venture thermal power plant in Zhengzhou, Henan province. Zhou Jian, director of Zhengzhou foreign trade and economic co-operation bureau said that CRP would take a 75% stake in the 2.4 billion yuan project. The power plant will have two units, each with a generating capacity of 300,000 kilowatts. The power project would make full use of the cheap and abundant supply of coal in the province, he said. The construction of the power plant started a few months ago and the project was going smoothly, he added. Zhou revealed that, besides CRP, another Hong Kong-based company planned to invest 2 billion yuan to set up a joint venture power plant in Zhengzhou. The Hong Kong company, which he did not name, will take a 30% stake in the new plant. The plant will have two units, each with generating capacity of 200,000 kilowatts.
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