Beijing Datang secures $3.62bn credit facility

7 November 2002 – Beijing Datang Power Generation Company Limited has signed an agreement in Beijing with China Development Bank to secure a RMB30bn ($3.62bn) credit facility.

The China Development Bank has also granted Beijing Datang Power an AAA credit rating. Mr. Yu Hongji, President of Beijing Datang Power, said in a company statement that “the China Development Bank has provided various loans for projects-in-progress amounting to RMB1,645 million.

In addition, the bank has provided mid-term and long-term loan commitments, short-term loan commitments and loans of intent amounting to RMB14.17 billion to various new projects of which Beijing Datang Power has controlling stakes.”

There are four projects which commenced construction during this year, namely: the Datang Pingwang Thermal Project (2 x 200MW units), the Datang Shentou Power Project (2 x 500MW units), the Datang Tuoketuo Power Project Phase II (2 x 600MW units) and the Datang Tangshan Thermal Power Project Phase I (1 x 300MW unit). In October, the Beijing Datang Power invested in three hydropower projects, including the Li Xian Jiang Hydropower Project, Na Lan Hydropower Project and Wen Shan Ma Lu Tang Hydropower Project. Currently, Beijing Datang Power owns and operates four power plants and eight power generation companies with a total installed capacity of 6,170MW

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