Huaneng mulling Australia power bid
9 May 2008
Huaneng Power is considering a bid for power assets to be put up for sale as part of a privatization process in New South Wales, Australia, Reuters reported, citing a report in the Sydney Morning Herald. The Herald quoted a person familiar with the situation as saying, "Besides power generation, coal mining and coal supplies, uranium is another area (Huaneng) are interested in for (their) own nuclear generation." The government of New South Wales hopes to raise US$14.2 billion through the privatization of state power assets. Huaneng, China's largest independent power company, paid US$3 billion for a power plant in Singapore last month, and has stakes in two plants in Queensland, Australia.
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