Tuesday, June 10, 2008

Dongfang Electric and China power sign cooperative agreement

Dongfang Electric Corporation Ltd<600875><1072> and China Power International Development Co Ltd<2380> had signed an agreement on strategic cooperation in the fields of equipment supplies, technical services and exploitation of international and domestic market, as reported.

Under the agreement, China Power will take Dongfang as the major base for its equipment supplies and technical services, said the source.

Dongfang had just received a RMB 6 billion order, to offset its great losses from the massive earthquake. In addition, the company's severely hit steam machine plant will be resettled soon and recover 80% of its capacity by the end of this year, according to the sources.

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