China Huadian to spend $6 bln expanding capacity

Huadian Power International Corp Ltd (1071.HK: Quote, Profile , Research) intends to invest 45 billion yuan ($6 billion) acquiring and building plants over the next three years, to add 15,000 megawatts of capacity by the end of 2010.

By the end of the decade, the firm's capacity should hit 35,000 megawatts, versus about 20,000 megawatts by the end of 2007, executive director Chen Jianhua told reporters.

Chen added that, like its rivals, Huadian's utilisation rates hit historical lows in the first half of this year because of a nationwide capacity build-up. He expects utilisation to rebound from next year. ($1=7.566 Yuan)