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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (1864)	12/10/2003 12:46:15 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China stakes power plant By Nigel Wilson 10dec03 CHINA'S largest independent power producer, Huaneng Power Group, was confirmed yesterday as the successful bidder for half of Queensland's Millmerran power station. The government-owned energy utility is believed to have beaten Hong Kong group Sime Darby, Origin Energy and Queensland state-owned generator Stanwell Corp to buy out US-based InterGen's 54 per cent stake in the $1.5 billion 840-megawatt operation, Queensland's newest coal-fired power station. It is the first time a major Chinese government power concern has bought Australian generation assets. Chinese government officials will travel to Brisbane for a formal signing ceremony with Queensland Premier Peter Beattie on Tuesday. Few details of the sale were available last night but it is understood Huaneng will pay around $300 million and assume InterGen's pro rata debt in Millmerran as well as taking half of InterGen's 50 per cent stake in the 840MW Callide C power station. heraldsun.news.com.au