Hong Kong & Ch. Gas : Hong Kong & China Gas to Spend HK$10 Billion in China Between 2011-2013
06/05/2012| 01:27am US/Eastern
By Yvonne Lee
HONG KONG--Blue-chip utility Hong Kong & China Gas Co. (0003.HK), also known as Towngas, plans to spend HK$10 billion between 2011-2013 to expand in China, a senior executive said Tuesday.
Towngas Managing Director Alfred Chan told reporters after the company's annual general meeting it will invest around 70% of planned capital expenditure in its ECO Environmental Investments Ltd. unit, which operates environmentally friendly energy businesses like liquefied petroleum gas filling stations in mainland China.
The remaining 30% will go to city-gas projects.
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