Joint Venture To Export Shanxi’s Energy To Jiangsu

 

Via caixinglobal.com

Six Chinese coal and power companies have agreed to form a new joint venture for cross-region power transmission.

The new company, provisionally named Sujin Energy with an initial investment of 6 billion yuan ($953 million), will facilitate the transmission of electricity from the northern province of Shanxi to coastal Jiangsu province. The agreement comes as the central government works to solve regional imbalances between power production and consumption.

Other businesses operated by Sujin Energy will include trade in coal and natural gas between the two areas, as well as investment in coal mines, according to a filing by Jiangsu Guoxin Corp. Ltd., one of the six founding companies.

 

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