Shenzhen Energy Group Co Ltd<000027> announced on Mar. 1 that it plans to spend RMB 5.61 billion to build power plants in Shenzhen, Guangdong Province, Wuhan, Hubei Province and Tongliao, Inner Mongolia Autonomous Region.
In Shenzhen's Longgang District, a power plant with estimated capacity of 4 million kilowatts will be built. Another power plant, with investment totaling RMB 1.368 billion, will be constructed in Baoan District, Shenzhen City and will consume 3,000 tons of garbage daily.
The third new power plant in Shenzhen, with investment of RMB 380 million, will be located in the city's Nanshan District and will have a garbage disposal capacity of 800 tons a day.
In Wuhan City, a subsidiary of Shenzhen Energy Group plans to build a garbage power plant with predicted daily garbage disposal capacity of 1,000 tons and investment of RMB 394 million.
The group's wind power station, to be built in Tongliao City, Inner Mongolia, will cost RMB 3.11 billion.
The Shenzhen-listed company reported on Mar. 2 that it recorded net profit of RMB 910 million in 2008, down 43.06% year on year.