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Recently, CWPC successfully signed a /Capital Increase & Buying Shares Agreement/ with Grange Power Limited .Chairman Li Renchao, Vice-president Li Hong attended this ceremony and witnessed this historic moment. After the completion of capital increase, CWPC have held shares of 51% of the target company, becoming its shareholder.
Pakistan always has a good relationship with China .In order to seize the opportunity of great demand of electric power in Pakistan, CWPC actively push this project (contract amount is about 1.183 billion RMB)to move forward .Based on negotiations between both sides ,CWPC signed a /Capital Increase & Buying Shares Agreement / with Crange Power Limited on 8 Oct.,2015. CWPC plan to invest Grange Power Limited 29.58 million US dollars (equivalent to 187.84 million RMB) .After this capital increase, CWPC will fully be responsible for investing, constructing and operating this project .
Because of long term power shortage in Pakistan, it is badly in need of power supply; making it is the first project that obtains great support from government of Pakistan .And it also means that CWPC have made an important step in its international strategy and it is an important step for CWPC to follow the strategic vision of “One Belt ,One Road”, to response the call of “Power Equipment shall Go Out”.CWPC can make full use of favorable advantages of its experience in running power plants to improve overall economic benefit of this project .Directly participating in oversea investment could significantly improve income proportion .
Markets in Pakistan will be a start for CWPC to expand oversea markets.