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China Southern Power Grid increases 2009 investment by 83%

By Wan Zhihong (chinadaily.com.cn)
Updated: 2009-01-21 12:39

China Southern Power Grid Co, which oversees power networks in five provinces and autonomous regions in south China, said it plans to invest 88 billion yuan ($12.87 billion) in 2009 to upgrade its power systems, an increase of 83 percent from a year earlier.

The Guangdong-based company's total fixed assets investment in 2009 is expected to reach 102.5 billion yuan, up by 20 percent from 2008.

China Southern, along with State Grid Corp of China and the country's five leading power generators, are expected to receive 10 billion yuan subsidies from the central government in its efforts to help the country's struggling industries.