Date
19 October 2017

Dongfang Electric plans new 1.07 bln yuan project, filing says

Zhenjiang Dongfang Electric Heating Technology Co. Ltd.(300217.CN) said on Monday that one of its wholly-owned units is planning to build an offshore oil and gas processing equipment facility with total investment of 1.07 billion yuan (US$174.55 million). The project, located in an industry park in Zhenjiang in eastern China’s Zhejiang province, is expected to generate net profit of 266 million yuan per year, on operating revenue of 1.37 billion yuan, the firm said in a regulatory filing. The facility is expected to be put into operation in three-and-a-half years.

– Contact HKEJ at [email protected]

KZ/AC/RC

 

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