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Commodities

Storage heater investment

The Ireland-based electrical equipment manufacturer Glen Dimplex plans to set up a unit making electrical night storage heaters in China, the Financial Times said. The company envisages producing around 500,000 heaters a year from a factory in Shenyang, Liaoning province, with some of the output going to other Asian countries.

Recent decisions to ban the burning of coal for domestic heating in many cities in northern China have created a potential market for the heaters, which would also take advantage of the recently introduced nighttime cheap rate for electricity.

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