BEIJING, Dec. 13, 2010 /PRNewswire-Asia/ -- Huaneng Power International, Inc. (the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) announced today that Suzhou Port Taicang Terminal Zone Huaneng Coal Pier Construction Project (in which the Company owns 66% equity interest) has been approved by the National Development and Reform Commission of The People's Republic of China.
The project proposes to construct one berth of 100,000 dead weight tonnage ("DWT") and one berth of 50,000 DWT for coal discharging, four berths of 5,000 DWT each and six berths of 1,000 DWT each for coal loading together with the corresponding ancillary facilities, with an aggregate annual through put capacity of 27 million tonnes (comprising discharging capabilities of 13 million tonnes and loading capabilities of 14 million tonnes).
The total investment amount of the project is estimated to be approximately RMB2 billion, 30% of which is to be funded by internal funds of the Company (accounting for 66%) and Nanjing Port Management Authority (accounting for 34%), respectively. The remaining investment will be funded by bank loans.
The project is the core construction of the Company for coal storage base along the coast of eastern China. It marks an important part for the Company to achieve safe-guard in coal transhipment and coal storage alongside the sea and the river, and serves an important move to complete the industry chain. Upon completion of the project, it can tap on the competitive advantages of both domestic and international markets for storing and shipping coal to major power plants of the Company in the eastern China, and to radiate to other power plants of the Company along the coastal line, and therefore enhance significantly the Company's ability in ensuring coal supply and reduce the fuel cost and operational risk of the Company.
In addition, the project serves as a public terminal for the transhipment, storage and distribution, etc. of coal (for both public use and power generation) across the waterway network of Yangtze River Delta and the areas along Yangtze River, the construction of which will enhance the safeguards in coal supply capabilities in Yangtze River Delta and the areas along Yangtze River. Making full use of the Yangtze River Estuary Deepwater Channel project, this Project is conducive in the formation of a rationalised transportation system by "transporting the coal from the north to the south, ingressing Yangtze River by sea vessels", thereby upgrading the transportation efficacy, improving the current deficient discharging capability for coal in public piers along the river of Jiangsu Province, rationalising the distribution of the piers for coal in Yangtze River Delta, accelerating the development of coal transhippment in ports towards better professionalism and economies of scale and ensuring the safety in energy supply, which are of paramount importance to the economic and social development of Yangtze River Delta.
About the Company
The Company is one of China's largest listed power producers with controlled generation capacity of 50,033 MW and equity-based generation capacity of 46,512MW. The power plants of the Company are located in 17 provinces, municipalities and autonomous regions in China. The Company also has a wholly-owned power company in Singapore.
For enquiries, please contact:
Huaneng Power International, Inc.
Ms. MENG Jing / Ms. ZHAO Lin
Tel: +86-10-6608-6765 / +86-10-6322-6596
Wonderful Sky Financial Group Limited
Ms. Katy CHAN / Mr. John GAO / Ms. Olive ZHANG
Tel: +852-3970-2119 / +852-3970-2186 / +852-3970-2180
SOURCE Huaneng Power International, Inc.