China Energy Investment signs $83.7 billion in West Virginia project

posted by Jay Weber - 

via Reuters

 BEIJING (Reuters) - China Energy Investment Corp, the world’s largest power company by asset value, has signed a memorandum of understanding (MOU) to invest $83.7 billion in shale gas, power and chemical projects in West Virginia, the U.S state said on Thursday.

The agreement was the biggest among a slew of deals signed during U.S. President Donald Trump’s state visit to Beijing. The total value of the deals done during Trump’s trip could be as much as $250 billion.

The gas and power agreement marks the first overseas investment for newly founded China Energy, which formed from a merger of China Shenhua Group [SHGRP.UL], the country’s largest coal producer and China Guodian Corp [CNGUO.UL], one of its top five utilities.

The complete story here > China Energy Investment signs MOU for $83.7 billion in West Virginia projects

US President Donald Trump (2nd R) and First Lady Melania Trump (3rd R) arrive for a state dinner with China's President Xi Jinping (3rd L) and his wife Peng Liyuan (R) at the Great Hall of the People in Beijing on November 9, 2017. Donald Trump urged Chinese leader Xi Jinping to work hard and act fast to help resolve the North Korean nuclear crisis during talks in Beijing Thursday, warning that 'time is quickly running out'. / AFP PHOTO / POOL / THOMAS PETER (Photo credit should read THOMAS PETER/AFP/Getty Images)

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