|LG International Signs Agreement to Enter into Partnership with Wuwei Coal-Fired Combined Heat & Power Plant|
|Date : 2015-10-14 | View : 15,348|
LG International Signs Agreement to Enter into Partnership
LG International Corporation held a signing ceremony Tuesday for the Wuwei Coal-Fired Combined Heat & Power Plant, Gansu Province, China, with Gansu Electric Power Investment Group (GEPIC), a leading Gansu Province-based investment company, at LG Twin Towers in Yeouido, Seoul.
Participants in the ceremony included LG International CEO Song Chi-ho, GEPIC President Li Ningping, and a dozen other officials from both entities.
At the ceremony, Mr. Song, LG International CEO, said, “We look forward to strengthening the strategic relationship between the two companies with this joint investment partnership, which has been considered a successful entry into northwestern China, where the potential for growth is high.”
The two companies signed an MOU in March, and reached an agreement to make a joint investment in the Wuwei Coal-fired Combined Heat & Power Plant. A total of RMB 3.25 billion (about KRW 599.6 billion) will be invested in the Wuwei Plant project. Construction of the power plant will be completed in the second half of 2017, after which the plant will begin commercial operations.