EDF, GEC pen China power deal

Electricit? de France and GEC Alsthom have signed a deal to build and operate the first Chinese power station entirely financed by foreign investment. Total value of the project is almost $590 million. OThis is China?s first BOT?build, operate and transfer?project and will be entirely financed by foreign capital,O according to a statement from EDF and GEC. Scheduled for completion in 1999, the 2×350 MW Laibin OBO coal-fired station will belong to EDF and GEC for 15 years, then transfer to the government.