Overseas expansion
Updated: 2009-08-06 07:31
(HK Edition)
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The company will continue to look for investment opportunities outside Hong Kong, company chairman Canning Fok said in the statement released yesterday, after overseas contribution redeemed losses in the home market.
Hongkong Electric and its parent company Cheung Kong Infrastructure Holdings Limited became the largest electricity distributor in Australia after they acquired Electricity Trust of South Australia, Powercor Australia Limited and Citipower.
The company also holds a 35 percent stake in the UK's Northern Gas Networks Limited and is the controlling shareholder of Canada's Stanley Power Inc.
In Asia, the power giant owns a power plant in Ratchaburi, Thailand and bought a 50 percent stake in Wellington Electricity Network in New Zealand last year.
In early April, it acquired 45 percent equity interests in three power plants located in Guangdong and Jilin with a total capacity of 1,260 megawatts.
The company is also a co-developer of two wind farms located in Dali, Yunnan province and Laoting, Hebei province, both of which will become operational this year.
(HK Edition 08/06/2009 page4)