Datang strikes deal in Hunan

Beijing Datang Power and Hunan Huayin Electric plan to join forces in building a new electricity generating plant in Hunan province, said Shanghai Securities News. The joint venture Hunan Datang Jinzhushan Electric Power will account for 20 per cent of the Yn4.65bn investment to run the plant. Beijing Datang will pay cash for 60 per cent of the registered capital, while Huayin will contribute two power generating units as assets. The deal remained subject to the approval of company shareholders.