25 central SOEs to invest RMB 109 bln in SW China's Sichuan

Oct. 19, 2009 (China Knowledge) - Twenty-five stated-owned enterprises that are directly controlled by the central government on Thursday signed 46 investment deals worth RMB 109 billion with the governments of 18 cities in Southwest China's Sichuan Province, the official Xinhua News Agency reported.

The 46 projects involve energy, chemicals, aviation, electronics, biology, materials and other industries.

The investment is the largest by central SOEs since the foundation of China in 1949.

China Guodian Corp, parent of GD Power Development Co<600795>, will invest RMB 17.1 billion in the province, while China Huadian Corp, parent of dual-listed Huadian Power International Corp<600027><1071>, plans to invest RMB 15.3 billion in the province. China National Chemical Corp, the largest chemicals maker in mainland China, will invest RMB 11.92 billion.

Chengdu, the capital of Sichuan, attracted six projects worth RMB 18.1 billion.