China's Huadian Power to Cut 2008 Spending by Two-Thirds to Boost Profit

(Bloomberg) -- Huadian Power International Corp.,
fourth-largest among China's Hong Kong-listed electricity
producers, plans to cut spending on new plants by two-thirds
next year to increase profitability.

Capital investment may drop to 5 billion yuan ($654 million)
to add 1,200 megawatts of coal-fired capacity in 2008, Zhang
Gelin, head of the Beijing-based utility's securities department,
said yesterday in a phone interview from Beijing. Spending may
total 15 billion yuan this year, Managing Director Chen Jianhua
said March 26.


Read more at Bloomberg Emerging Markets News