Coal prices hammer Chinese power giants
China Guodian Corporation and China Huadian Corporation have recorded losses in the first six months of this year.
It is estimated China Datang Corporation has lost about 2 billion yuan.
The China Power Investment Corporation is estimated to have have lost 1 billion yuan.
The coal-fired power plants, which supply 78 percent of the country's electricity, were let down by soaring coal prices, government control of electricity prices, and the rising financial costs resulting from expanding investment and the country's tight monetary policy.
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Chinese govt rejects the allegations against CPEC Power Producers
BEIJING - Chinese government has rejected the allegations against the CPEC Power Producers (CPPs).
Chinese government has made it clear that a mammoth cooperation with Pakistan in the energy sector is continuing.
A letter written by Chinese ambassador to minister of Energy Omar Ayub Khan has said that major headway has been seen in recent days in the perspective of CPEC projects. But he wants to invite the attention of government of Pakistan to the recent allegations leveled against the CPEC Power Producers (CPPs).
The Chinese ambassador further said Energy is a major area of cooperation under the CPEC and the CPPs have…
