Chinese Hydropower Supplier Zhefu Climbs After Winning Georgian Order
Tang Shihua
DATE:  Apr 07 2020
/ SOURCE:  yicai
Chinese Hydropower Supplier Zhefu Climbs After Winning Georgian Order Chinese Hydropower Supplier Zhefu Climbs After Winning Georgian Order

(Yicai Global) April 7 -- Zhefu Holding Group's shares jumped after the Chinese specialist in hydroelectric power plants and equipment said it won a USD46 million order to supply five generator sets, ancillary gear and installation services for the Namakhvani cascade project in Georgia.

The Hangzhou-based company's stock price [SHE:002266] soared as much as 6.8 percent today before closing at CNY3.90 (55 US cents), a gain of 5.7 percent. The benchmark Shanghai Composite Index rose 2 percent.

Zhefu will provide three sets of 107.95-megawatt and two sets of 45.3-megawatt turbine generators and ancillary equipment for the power station, and will design, make, supply, transport and install the equipment, according to an April 2 contract it signed with the Branch of Enmar Construction BV, the general contractor.

The equipment will be delivered in multiple shipments by 2022. Installation will be completed in April 2023, Zhefu said in a statement yesterday.

Editor: Peter Thomas

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Keywords:   Zhefu Holding,Belt and Road