Dec 29, 2011 - Chinese hydropower firm Guangxi Guidong Electric Power Co Ltd (SHA:600310) said today it had acquired an additional 2.5% stake in its unit Zhaoping Guihai Electric Power Co Ltd.
The company took part in a tender launched by Guangxi Zhaoping Water Resources & Electric Power Co Ltd. It is to pay CNY 7.35 million (USD 1.2m/EUR 900,000) for the 2.5% interest.
Apart from hydropower generation, Guidong Electric is also engaged in the distribution of electricity, mainly to the provinces of Hezhou, Wuzhou, Guangdong and Hunan.
(CNY 1 = USD 0.158/EUR 0.122)
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