KEPCO, Deutsche Bank & Shanxi power firm to form coal giant

SEOUL, December 19 — Korea Electric Power Corp (KEPCO) has agreed with Deutsche Bank and Shanxi International Electricity Group to establish a RMB10 billion (US$1.28 billion) joint venture to develop coal mines in China, reports China Daily.

Quoting South Korean media, China Daily says KEPCO will cover 34%, with Shanxi International Electricity Group and Deutsche Bank investing 47% and 19% respectively.

The group will develop nine coal mines in Shanxi Province over the next 50 years, and buy 24 power plants with a combined capacity of 9,330MW, according to media reports.

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