Progress on Material Investme

RNS Number : 2855Y

Datang Intl Power Generation Co Ld

01 September 2009

 



Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

DATANG INTERNATIONAL POWER GENERATION CO., LTD.

(a sino-foreign joint stock limited company incorporated in the People's Republic of China)(Stock Code: 991)

ANNOUNCEMENT ON 

PROGRESS ON MATERIAL INVESTMENT

Special Notice:

The board of directors (the 'Board') and all directors (the 'Directors') of the Company warrant that there are no false representations and misleading statements contained in, or material omissions from this announcement, and severally and jointly accept the responsibility for the truthfulness, accuracy and completeness of the contents of this announcement. 

Reference is made to the announcement and the circular (the 'Circular') of Datang International Power Generation Co., Ltd. (the 'Company') dated 11 April 2008 and 1 May 2008, respectively, relating to the investment arrangement of the Keqi Coal-based Gas Project. Unless otherwise defined, capitalised terms used herein shall have the same meanings as defined in the Circular.

The Company entered into the Investment Agreement on 11 April 2008 to establish the  Keqi Coal-based Gas Company for the purposes of planning, constructing and operating the Keqi Coal-based Gas Project, i.e., a project involving the production of 4,000,000,000 cubic meters of natural gas per annum in Kesheketeng Qi, Inner Mongolia. The Company agreed to contribute to the capital of the Keqi Coal-based Gas Company in the proportion of 51%. 

Recently, the Keqi Coal-based Gas Project was approved by the National Development and Reform Commission through the document titled 'NDRC Energy Approval No. [2009] 2163'. The total investment of the Keqi Coal-based Gas Project was approved to be RMB25.71 billion, of which the capital amount of the project was RMB7.71 billion. The shareholding structure and the proportions of capital contribution of the Keqi Coal-based Gas Project were adjusted as follows: Datang Energy and Chemical Company Limited, a wholly-owned subsidiary of the Company, contributed to the capital amount in the proportion of 51%; Beijing Gas Group contributed to the capital amount in the proportion of 34%; CDC contributed to the capital amount in the proportion of 10%; and Tianjin Jinneng Investment Company contributed to the capital amount in the proportion of 5%.

In view of the adjustments to the parties for capital contribution, the capital amount and the proportions of capital contribution to the Keqi Coal-based Gas Project, a new cooperation agreement will be entered into by the relevant parties.  The Company will issue a further announcement pursuant to the requirements of the Listing Rules upon entering into the cooperation agreement.  

By Order of the Board  

Zhou Gang  

Secretary to the Board

Beijing, the PRC, 31 August 2009

As at the date of this announcement, the Directors of the Company are:Zhai Ruoyu, Hu Shengmu, Cao Jingshan, Fang Qinghai, Zhou Gang, Liu Haixia,Guan Tiangang, Su Tiegang, Ye Yonghui, Li Gengsheng, Xie Songlin*, Liu Chaoan*, 

Yu Changchun*, Xia Qing* and Li Hengyuan*.

* Independent non-executive Directors

 

END

 

 

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