HUANENG POWER INTENATIONAL, INC.
(a Sino-foreign joint stock limited company incorporated
in the People's Republic of China)
(Stock Code: 902)
ENTERING INTO COAL SUPPLY AGREEMENT WITH
SHANXI COKING COAL GROUP CO., LTD.
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On 24th September 2004, Huaneng Power International, Inc. entered into an
agreement with Shanxi Coking Coal Group Co., Ltd. for purchase of thermal coal
for the five years from 2005 to 2009.
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This announcement is made pursuant to Rule 13.09(2) of the Rules Governing the
Listing of Securities on the Stock Exchange of Hong Kong Limited ("Listing
Rules").
Huaneng Power International, Inc. (the "Company") entered into an agreement
with Shanxi Coking Coal Group Co., Ltd. ("Shanxi Coking Coal") on 24th
September 2004, pursuant to which Shanxi Coking Coal will be providing the
Company with thermal coal amounting to 4.2 million tonnes, 4.5 million tonnes,
4.5 million tonnes, 5.7 million tonnes and 6 million tonnes for the five years
from 2005 to 2009 respectively. The Company and Shanxi Coking Coal have
established an annual coal price adjustment mechanism in accordance with the
principles of ensuring stability and equality whereby the increase/decrease of
the coal price shall be within the range of 8% of the agreed basic price of
the respective year.
Shanxi Coking Coal is an independent third party not connected to the Company
as defined in the Listing Rules and the transaction as contemplated by the
aforesaid coal supply agreement does not constitute notifiable transaction or
connected transaction under the Chapter 14 and Chapter 14A of the Listing
Rules.
By Order of the Board
Xxxxx Long
Company Secretary
As at the date of this announcement, the directors of the Company are:
Xx Xxxxxxxx (Non-executive director) Gao Zongze (Independent director)
Xxxx Xxxxxxxx (Non-executive director) Xxxxx Xxxxxxxx (Independent director)
Ye Daji (Non-executive director) Qian Zhongwei (Independent director)
Huang Jinkai (Non-executive director) Xia Donglin (Independent director)
Xxx Xxxxxxx (Non-executive director)
Shan Qunying (Non-executive director)
Yang Shengming (Non-executive director)
Xx Xxxxxx (Non-executive director)
Beijing, the PRC
24th September, 2004
