GD Power, TGood Snag Saudi Arabia Projects

MT NewswiresJan 20 04:54 ET

GD Power Development (600795.SH): plans to invest in and participate in the construction of the 2 million kilowatt photovoltaic project of the fifth round of Sadawi in Saudi Arabia.

On January 16, Glorious Holdings reported that GD Power Development (600795.SH) announced that the company held the 34th meeting of the 8th Board of Directors, reviewing and approving the proposal for participating in the investment and construction of the 2 million kilowatt photovoltaic project in Saudi Arabia's fifth round of Sadhawi. The project is jointly invested and constructed by GD Power Development Hong Kong Company, a wholly-owned subsidiary of GD Power Development, along with Abu Dhabi Future Energy Company and Korea Electric Power. GD Power Development Hong Kong Company holds a 40% stake. The dynamic total investment of the project is 1,111.6938 million USD, with a capital contribution ratio of approximately 32.38%. Based on the dynamic total investment and shareholding ratio, the company will allocate approximately 1 million capital to GD Power Development Hong Kong Company.

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ReutersJan 16 02:56 ET

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