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Chinese Coal and Power Giants to Merge


China’s largest coal company plans to merge with a power giant to boost the nation’s thermal power reform, according to the Shanghai Daily. China Guodian Corp., one of the nation’s five largest power groups, said its merger plan with China Shenhua Energy Co. has been proposed to the state council, or cabinet.

Such a plan would create China’s largest power company, which would be called the State Power Investment Corp. The new group will have a generation capacity totaling 226 gigawatts, with assets exceeding 1.8 trillion yuan ($121 billion).

http://www.shanghaidaily.com/business/energy/Coal-and-power-giants-merge-to-boost-reform/shdaily.shtml