Agreement Signed on Investment to Upgrade Kaiyuan Power Plant
An agreement on investing in the upgrade of the Kaiyuan power plant, a major project planned to supply electricity from southwest China's Yunnan Province to east China, was recently signed. According to the agreement, the investment will be shared by the Honghe Cigarette Factory, the Yunnan Power Group Co. Ltd. (Kunming, China), the Xiaolongtan Mining Affairs Bureau of Yunnan Province, the Yunnan Provincial Development and Investment Company, and the Datang Electrical Generation Co. Ltd. (Beijing, China).
The upgrade of the power plant, which has an installed capacity of 600,000kW, is expected to cost $2.69 billion yuan (US$324.0 million). The upgrade will start within the year, and the first and second generating units will begin to generate electricity in 2003 and 2004, respectively. On completion of the upgrade, the Kaiyuan power plant will enable the local power grid in southern Yunnan to operate on a more stable and reliable basis, according to local officials.