The collapsed US energy giant Enron was actively involved in two large infrastructure projects in Sichuan province, said a mainland newspaper. With Enron’s China operations being wound up, other companies are looking to acquire its interests.
Last year Enron signed a US$45m contract to develop an oil and gas basin with China National Petroleum Corp. Its other main interest was a 51 per cent stake in a 284MW coal-fired power station in Chengdu, involving an investment of Yn2.3bn. This station began production last October and generates annual revenue of nearly Yn4bn. The Sichuan power company currently holding a minority ownership was said to be interested in increasing its share to 75 per cent. However, El Paso Energy of the US and some Hong Kong energy companies were also said to have expressed an interest.