Huayin Electric: Feasibility Studies Pending Approval


Datang Huayin Electric Power (600744) said its feasibility studies for a four billion yuan investment in a coal mine in Huaihua city, Hunan province, is still being reviewed by the government,  reports, citing a company filnig.

The company had signed an agreement with the Huaihua government in October 2008 regarding the right to mine for coal at the city's Huitong county.

According to the agreement, the company was to set up a subsidiary based in the city.

Huayin Electric has yet to establish the subsidiary, according to the filing.

According to previous media reports, the coal mining project will involve a total investment of 30 billion yuan, with four billion yuan to be invested in the first phase.

Huayin denied the reports, saying that the specific investment amounts were not contained in the agreement.


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