Qianan Xin Di Thermal Power

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Qianan SembCorp Co-generation Company Ltd was a 28-year joint venture between SembUtilites, a subsidiary of SembCorp Industries and the state-owned Qianan City Xin Di Thermal Power. The project involved a coal-fired co-generation facility in China, operating since late 1996. SembCorp acquired a 65 percent stake in the project in September 2001 at a cost of US$11 million financed through external loans. Total cost of the project was US$33.5 million and was financed through a 50/50 split of shareholder's equity and non-recourse RMB debt raised through the domestic market. The plant had an optimum production capacity of 21 megawatts of electricity and 118 tonnes per hour steam extraction. In May 2004, a Phase II expansion was announced that was to add another 75 tonnes an hour boiler and an additional 15MW steam turbine generator. The project was scheduled for completion in 2006 and had an estimated total cost of Rmb60 million (US$7.25 million).

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