Metalnewsnet 17 May ：

China Knowledge reported that China Resources Power Holdings Co Ltd a power subsidiary of state owned China Resource Co Ltd will spend CNY 354 million to purchase an 8% stake in joint venture Shanxi China Resources Liansheng Energy to increase its stake to 51%.

Ruihua Energy a subsidiary 74.4% owned by China Resources Power, currently holds a 58% stake in the JV while Liulin Liansheng holds the remaining 42% stake.

The JV has acquired 39 collieries. The collieries will be put into operation by the end of this year.

Reports said that China Resources Power would purchase 21 collieries in Shanxi Province and that these collieries' total annual output would exceed 7 million tonnes.

Responding to the reports, China Resources Power said that it will proceed with its colliery purchase plans after it finishes acquiring the additional 8% stake in the JV.

( from China Knowledge)