Exhibit 10.31
ASSIGNMENT AND ASSUMPTION CONTRACT
This ASSIGNMENT AND ASSUMPTION CONTRACT (this "Contract"), dated as of
this 26th day of April, 1996, is between JIAOZUO ALUMINUM MILL ("Assignor") and
JIAOZUO XXX XXXX POWER COMPANY LIMITED ("Assignee").
RECITALS
WHEREAS, Assignor owns all right, title and interest in and to the
equipment, machinery, properties, contracts, permits, licenses and other assets
listed on Schedule A attached hereto (the "Project Assets");
WHEREAS, pursuant to the Joint Venture Contract dated as of March 27,
1996 between Assignor and Jiaozuo Power Partners, L.P. (the "Joint Venture
Contract"), Assignor is required to transfer the Project Assets to Assignee at
the time contributions to the registered capital of Assignee are made;
WHEREAS, Assignor desires to assign to Assignee, and Assignee desires
to accept, all of Assignor's right, title, interest and benefits under, in and
to, the Project Assets and Assignee desires to assume certain liabilities in
connection therewith as listed on Schedule B attached hereto (the
"Liabilities"), all on the terms and conditions set forth herein; and
WHEREAS, the transfer of the Project Assets under this Contract is made
in consideration of Jiaozuo Power Partners, L.P. entering into the Joint Venture
Contract and in consideration of Assignee's assumption of the Liabilities listed
on Schedule B hereto;
NOW, THEREFORE, the parties hereto, intending to be legally bound,
agree as follows:
1. Assignor hereby irrevocably conveys, transfers, sets over and
assigns to Assignee (the "Assignment"), and its successors and assignees, all of
Assignor's right, title and interest in and to all of the Project Assets and all
benefits arising thereunder or therefrom, such Assignment to take effect on the
Assignment Date (as herein defined).
2. (a) Subject to the terms and conditions herein, Assignee hereby
assumes the Liabilities specifically listed on Schedule B hereto, provided that
Assignee shall not assume any liability in connection with the Project (as
defined in the Power Purchase and Sale Contract dated as of April 26, 1996
between Assignor and Assignee), the Project Assets or this Contract, whether or
not listed on Schedule B, until the Assignment Date or such later date as the
Assignment becomes effective under Section 4. Assignor specifically acknowledges
and agrees that Assignee does not assume any liability not listed on Schedule B
and that Assignee shall have no responsibility for any liability in connection
with the
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Project, the Project Assets or this Contract prior to the Assignment Date or
such later date as the Assignment becomes effective under Section 4.
(b) All debts and liabilities of Assignor in connection with the
Project (other than those listed on Schedule B), whether now existing or
hereafter arising, shall be the sole obligation of Assignor and shall not give
rise to any actual or contingent Lien (as herein defined) on any portion of the
Project, the Project Assets, Assignee, any assets of Assignee or any interest in
Assignee. Assignee shall not be liable for any such debts or liabilities.
Assignor shall be obligated to repay such debts and liabilities in full and upon
such repayment shall provide evidence satisfactory to Assignee that such debts
and liabilities have been paid in full and that all claims and liens in
connection therewith have been released.
3. Each party hereto agrees that it shall execute or cause to be
executed promptly after request by the other such documents or instruments as
may be reasonably required for the purpose of or in connection with the
assignment by Assignor of the Project Assets or the assumption by Assignee of
the Liabilities pursuant to this Contract.
4. Notwithstanding anything contained herein, to the extent the consent
of any third party is required as a condition to the assignment of any Project
Asset, the Assignment, insofar as it encompasses such Project Asset, shall not
be effective unless and until such consent shall have been obtained and Assignor
shall: (a) until such time as such consent shall have been obtained, to the
extent possible obtain for Assignee the benefits of such Project Asset as though
the Assignment had been effective with respect to such Project Asset; and (b) be
obligated to obtain the consent of such third party. At such time as Assignor
shall obtain the required consent to the assignment of any Project Asset
retained by Assignor pursuant to this Section 4, the Assignment shall
immediately become effective in accordance with the terms of this Contract
without the need for further action or further documentation by either party
hereto. This Section 4 shall not apply to any transfer that does not require any
third party's consent.
5. The "Assignment Date" shall be the date on which this Contract is
formally signed by Assignor and Assignee, which date shall be after the business
license is issued to Assignee.
6. Assignor represents and warrants to and covenants with Assignee as
follows:
(a) Assignor has all necessary corporate power and authority to execute
and perform its obligations under this Contract; the signing and performance by
Assignor of this Contract have been duly authorized by all necessary corporate
action on its part; and this Contract has been duly and validly signed by
Assignor and constitutes its legal, valid and binding obligation, enforceable in
accordance with its terms.
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(b) No authorizations, approvals or consents of, and no filings or
registrations with, any governmental or regulatory authority or agency are
necessary for the signing or performance by Assignor of this Contract or for the
validity or enforceability thereof.
(c) So long as provisions of this Contract are in effect, Assignor
shall (i) preserve and maintain its corporate existence; (ii) preserve and
maintain all of its material rights, privileges and franchises; and (iii) comply
with the requirements of all applicable laws, rules, regulations and orders of
governmental or regulatory authorities.
(d) Assignor is the sole legal and beneficial owner of the Project
Assets free and clear of any Lien other than the Liabilities listed on Schedule
B. "Lien" means, with respect to any property, any mortgage, lien, pledge,
charge, security interest, encumbrance, option, contract right or other third
party right of any kind in respect of such property.
(e) The Project Assets are in a good state of repair and working
condition and comprise of all of the assets, rights and privileges which are
currently or have been used or required by Assignor to carry on the Project.
(f) There are no options or other agreements or contracts outstanding
which provide for the sale or transfer or the right to require the creation of
any Lien over the Project Assets or any part thereof.
(g) Assignee shall upon taking over the Project Assets have full and
complete right, title and interest in and to the Project Assets free and clear
of all Liens.
(h) Neither Assignor nor any of its employees is engaged in or is the
subject of any litigation or arbitration, administrative or criminal proceedings
which may affect the Project Assets or the Project.
(i) All the books and records and other materials relevant to the
Project have been fully, properly and accurately maintained on a consistent
basis and have been turned over to Assignee.
(j) Except as expressly listed on Schedule C hereto, Assignor has
conducted work in connection with the Project in all respects in accordance with
all applicable laws, permits and regulations of the People's Republic of China
and is not currently in violation of such applicable laws, permits and
regulations including without limitation those of the environmental protection
agency. The Project and its business as contemplated will not violate such
applicable laws and regulations referred to above. Assignor acknowledges that
the approvals listed on Schedule C have not been obtained and believes that the
lack of such approvals will not have a serious impact on the Project. Assignor
agrees to provide relevant government support document(s) and try its best to
hold the Assignee harmless against losses in connection therewith.
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(k) Assignor has disclosed to Assignee in writing full and complete
copies of all contracts and arrangements entered into prior to the date hereof
in respect of the Project Assets and the Projects; and Assignor is not at the
date hereof a party to or subject to any agreement which is outside the ordinary
course of the business of the Project.
(l) There are no claims of third parties or liabilities or obligations
of any kind relating directly or indirectly to the Project or the Project Assets
except the Liabilities set forth on Schedule B hereto.
(m) There are no contracts, obligations, agreements or arrangements to
which Assignor is a party or by which Assignor is bound which are void, illegal
or unenforceable under or contravening any laws, regulations or permits.
(n) Assignor is not in default under any provision of any of the
contracts relating to the Project to be assigned to Assignee and no event has
occurred which constitutes a default, or with the giving of default notice or
the passage of the default cure period, would constitute a default under the
foregoing contracts.
(o) The approvals, contracts and insurance policies to be assigned to
Assignee are and will be on the date of such assignment in full force and effect
in accordance with their terms.
(p) All representations and warranties made by Assignor will be true
throughout the term of Assignee as a joint venture.
(q) Assignor believes that the construction of the power plant complies
with all applicable laws, permits and regulations.
(r) No tax liability shall be incurred by Assignee as a result of
Assignor's transfer of the Project Assets to Assignee as Assignor contribution
to the registered capital of Assignee.
(s) Work relating to the Project that has been completed prior to the
Assignment Date or such later date as the Assignment becomes effective under
Section 4 is free from defects in title, conforms to standards of design,
materials and workmanship prevailing in the industry and conforms in all
respects to the construction contract(s).
(t) Warranties provided by manufacturers or otherwise on equipment
transferred and other Project Assets are valid as of the Assignment Date or such
later date as the Assignment becomes effective under Section 4.
(u) Assignor shall notify Assignee immediately in writing if Assignor
becomes aware of any circumstances that might make any of the representations
and warranties hereunder untrue or misleading.
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7. Assignor shall, and does hereby agree to, indemnify Assignee for,
and hold it harmless from, (a) any and all liability, loss or damage (other than
to the extent resulting from the Liabilities listed on Schedule B hereto) which
may be incurred under or by reason of this Contract or any breach by Assignor of
any of the representations, warranties, covenants or the terms of this Contract,
(b) any and all claims and demands whatsoever which may be asserted against
Assignee by reason of this Contract (other than to the extent resulting from the
Liabilities listed on Schedule B hereto), (c) any and all claim, liability, loss
or damage relating to the Project or Project Assets arising prior to the
Assignment Date or such later date as the Assignment is effective under Section
4 and (d) any and all claim, liability, loss or damage relating to the Project
or Project Assets arising after Assignment Date or such later date as the
Assignment is effective under Section 4 (other than to the extent resulting from
the Liabilities listed on Schedule B hereto), including in the case of any of
the foregoing items (a) through (d) all costs, expenses and reasonable
attorneys' fees, but excluding any such loss, liability, damage, claims or
demands to the extent resulting directly from Assignee's misconduct or
negligence.
8. (a) Both parties agree that the total value of the Project Assets as
of March 31, 1996 is an amount not less than RMB 301,648,069 and not exceeding
RMB312,808,069 (the "Price Range"). Both parties shall endeavor to agree on the
precise value of the Project Assets (the "Final Price") within the Price Range
prior to May 17, 1996. Upon reaching agreement on the Final Price, (i) the Final
Price shall be stated in Schedule A and Schedule B; (ii) both parties shall sign
Schedule A and Schedule B, which signatures shall be evidence that the parties
have reached agreement on the Final Price; and (iii) the transfer of the Project
Assets from Assignor to Assignee in an amount equal to the Final Price shall be
deemed to have been made on the Assignment Date.
(b) Notwithstanding Section 8(a), the effective date of the Assignment
is the Assignment Date.
(c) On the date the parties reach agreement on the Final Price, a
portion of the Final Price equal to RMB 134,274,000 shall be converted into
Assignor's contribution to the registered capital of Assignee and the remaining
amount of the Final Price shall be deemed to be the first drawdown on the
shareholder loan required to be provided by Assignor to Assignee pursuant to the
Joint Venture Contract.
(d) Both parties recognize that certain of the contracts listed on
Schedule B are not based on fixed prices and that certain contract prices
specified in Schedule B are subject to change. Assignee shall be responsible for
any such price changes except those price changes that have been already
accounted for in the Valuation Report of the Assets of Jiaozuo Aluminum Mill's
Self-Supply Power Plant by Henan Provincial Ownership Rights and Assets
Valuation Company, Ltd. dated June 28, 1995, which price changes shall be
Assignor's responsibility.
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9. Failure by either party to exercise any of its rights under this
Contract shall not constitute a waiver of such rights. Neither party shall be
deemed to have waived any right resulting from any failure to perform by the
other party unless it has made such waiver specifically in writing.
10. (a) The parties shall attempt to settle any dispute arising out of
or in connection with this Contract through friendly consultation between
themselves. Such consultation shall begin promptly after one party has delivered
to the other party a written request for such consultation. If the parties do
not reach an amicable solution within 30 days of receipt of such notice, either
party may, with notice to the other party, submit the dispute for binding
arbitration in Beijing, China, under the auspices of the China International
Economic and Trade Arbitration Commission ("CIETAC") in accordance with the
CIETAC Arbitration Rules as in effect on the date of this Contract (except to
the extent this Section 10 specifies different procedures, in which event such
procedures shall govern the arbitration, including the selection of the
arbitration panel). The parties agree that any dispute arising out of or in
connection with this Contract shall be submitted exclusively to arbitration as
provided in this Section 10. Any settlement and award rendered through such an
arbitration proceeding shall be final and binding upon the parties if the
decision is in writing and contains a reasoned analysis explaining the
arbitrators' reasons for rendering the award. The parties agree that the
arbitral award may be enforced against the parties or their assets wherever they
may be found and that a judgment upon the arbitral award may be entered in any
court having jurisdiction thereof. Accordingly, the parties irrevocably agree
that any action to enforce such judgment may be instituted wherever appropriate
and each party hereby irrevocably waives, to the fullest extent permitted by
law, any objection which it may have now or hereafter to the laying of the venue
or the jurisdiction or the convenience of the forum of any such action and
irrevocably submits generally and unconditionally to the jurisdiction of any
such court in any such action.
(b) The arbitration shall be conducted in English and Chinese and the
arbitration shall refer to the English and Chinese texts of this Contract.
(c) There shall be three arbitrators. The parties shall each select one
arbitrator within 30 days after giving or receiving the demand for arbitration.
The two arbitrators selected by the parties shall select the third arbitrator.
If a party does not appoint an arbitrator who has consented to participate
within 30 days after the selection of the first arbitrator, the relevant
appointment shall be made by the arbitrating body. The costs of the arbitration
shall be borne by the parties as determined by the arbitration tribunal, taking
into account the relative merits of the positions of the parties.
(d) Each party is subject to civil and commercial law and irrevocably
agrees that this Contract is a commercial rather than a public or governmental
activity and neither party is entitled to claim immunity from legal proceedings
with respect to itself or any of its assets on the grounds of sovereignty or
otherwise under any law or in any jurisdiction where an action may be brought
for the enforcement of any of the obligations arising under or relating
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to this Contract. To the extent that a party or any of its assets has or
hereafter may acquire any right to immunity from any set-off, legal proceedings,
attachment or execution of judgment on the grounds of sovereignty or otherwise,
each party hereby irrevocably waives such right to immunity in respect of its
obligations arising under or relating to this Contract.
(e) The parties hereby agree to carry out their respective obligations
under this Contract, including without limitation all payment obligations,
notwithstanding any pending dispute or controversy.
11. This Contract may be amended or modified only by an instrument in
writing signed by both parties.
12. This Contract will be executed in four counterparts in both Chinese
and English versions. Each version shall be of equal force and effect.
13. This Contract shall be governed by and construed in accordance with
the laws of the People's Republic of China.
14. The invalidity of any provision or portion of this Contract will
not affect the validity of the remainder of this Contract.
15. This Contract contains the complete agreement between the parties
with respect to the matters contained herein and supersedes all other
agreements, whether written or oral, with respect to the matters contained
herein.
16. This Contract and the Assignment shall become effective upon the
formal signing by both parties of this Contract after the business license is
issued to Assignee.
IN WITNESS WHEREOF, each of the parties hereto has caused this
Assignment and Assumption Contract to be signed by its duly authorized
representative on the date first set forth above.
JIAOZUO ALUMINUM MILL
By: /s/ [SIGNATURE ILLEGIBLE]
---------------------------
Name:
Title:
JIAOZUO XXX XXXX POWER COMPANY LIMITED
By: /s/ Xxxxxx X. Xxxx, III
---------------------------
Name:
Title:
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Schedule A
List of Project Assets
This Schedule A includes the list of Project Assets in the following
pages and any and all other property and assets, whether tangible or intangible
and wherever located, relating to the Project or any aspect of its development,
construction, ownership, financing or operation, whether in the name of
Assignor, any of its affiliates or any other party (including the contracts
listed on Schedule B and the rights and interests thereunder).
SCHEDULE A
JIAOZUO POWER STATION PROJECT
Total Assets and Liabilities to be Transferred to the Joint Venture Company
(in RMB)
1-June-95 to
31-May-95 Adjustment to 31-Mar-96
31-May-95 Appraised Value Appraised Value Change in Book Value
Asset Type Book Value
Land Use Right 8,601,274 81,940,628 (1,830,000) 7,598,845
Civil Construction & Installation 11,175,884 26,670,090 - 20,370,490
Prepaid Construction 17,361,078 17,361,078 - 16,145,721
Prepaid Equipment 30,853,102 48,039,898 (2,973,902) 8,310,400
Equipment in Warehouse 22,470,903 38,770,903 - 2,800,563
Fixed Assets - - - 617,220
Inventory - Raw Materials 10,521,054 10,657,218 - (1,840,111)
Other Investment 53,206 - - 500,232
Deferred Expenses 21,237,317 29,788,617 - 20,067,261
Other Receivables 2,224,327 2,224,327 - 578,697
Cash & Cash Equivalents 4,229,322 4,229,322 - 4,541,607
===================== =================== ===================== =========================
Total Assets 128,727,467 259,682,081 (4,803,902) 79,690,925
===================== =================== ===================== =========================
Liabilities
Other Payables
--------------------- ------------------- --------------------- -------------------------
Total Liabilities
Capital
Contributed by PRC Partners
===================== =================== ===================== =========================
Total Liab. & Capital
===================== =================== ===================== =========================
31-Mar-96
Reappraised Value Reference Pages
Asset Type (JV Opening Bal.)
Land Use Right 80,110,628 Sche. # 1
Civil Construction & Installation 47,040,580 Sche. # 2
Prepaid Construction 33,506,799 Sche. # 3
Prepaid Equipment 53,376,396 Sche. # 4
Equipment in Warehouse 41,571,466 Sche. # 5
Fixed Assets 617,220 Sche. # 6
Inventory - Raw Materials 8,817,107 Sche. # 7
Other Investment 500,232 Sche. # 8
Deferred Expenses 49,855,878 Sche. # 9
Other Receivables 2,803,024 Sche. # 10
Cash & Cash Equivalents 8,770,929
=====================
Total Assets 326,970,259
=====================
Liabilities
Other Payables 25,322,190 Sche. # 11
---------------------
Total Liabilities 25,322,190
Capital
Contributed by PRC Partners 301,648,069
=====================
Total Liab. & Capital 326,970,259
=====================
Mam
Land Use Right
(in RMB) 1-June-95 to
31-May-95 31-May-95 31-Mar-96 31-Mar-96 31-Mar-96
Account Items Book Value Appraised Value Change in BV Book Value Reappraised Value
Land Acquiring Fee
(area of 481,492.1 m2) 7,755,754 81,940,628 7,413,189 15,168,943 80,110,628
Land Investigation Fee 461,000 - 461,000 -
Temporary Facility 332,220 185,656 517,876 -
Electricity Transformer 52,300 - 52,300 -
----------------- ----------------- ----------------- --------------- ---------------------
TOTAL 8,601,274 81,940,628 7,598,845 16,200,119 80,110,628
Sch. 1 - Land Use Right
Civil Construction
(in RMB) 31-May-95 1-June-95 to 31-Mar-96
31-May-95 Appraised Value 31-Mar-96 31-Mar-96 Reappraised Value
Projects Book Value Change in BV Book Value
Well #1 315,171 490,601 - 315,171 490,601
Well #2 339,440 483,230 - 339,440 483,230
Well #3 343,855 491,980 - 343,855 491,980
Well #4 316,897 483,293 - 316,897 483,293
Well #5 341,097 484,294 - 341,097 484,294
Well #6 337,545 484,508 - 337,545 484,508
Well #7 337,513 484,098 - 337,513 484,098
Well #8 347,742 491,868 - 347,742 491,868
Well #9 139,020 496,880 - 139,020 496,880
Well #10 355,068 497,433 - 355,068 497,433
Wall Surrounding the Well 184,030 184,031 19,235 203,265 203,266
Land Work on Water Source 60,000 - - 60,000 -
Main Plant Land Civil Work 5,946,279 10,558,400 246,060 6,192,339 10,804,460
Cooling Tower Civil Work 40,766 1,440,000 341,878 382,644 1,781,878
Plant Entrance Road Work 161,355 1,766,400 132,610 293,965 1,899,010
Plant Area Wall Construction 316,460 336,000 8,416 324,876 344,416
Main Bridge 499,988 3,724,600 302,507 802,495 4,027,107
Chemney 347,149 1,376,956 1,004,596 1,351,745 2,381,552
Dormitory 383,695 1,632,000 81,132 464,827 1,713,132
Raw Material Storage 62,814 763,518 284,954 347,768 1,048,472
Fine Stone - - 5,000 5,000 5,000
Road for Coal Transport - - 5,250 5,250 5,250
Road Correction - - 1,111,440 1,111,440 1,111,440
Thermal Power Company - - 3,107,372 3,107,372 3,107,372
Main Plant Construction - - 11,510,549 11,510,549 11,510,549
Canteen Outside the Plant - - 254,888 254,888 254,888
Boiler Room - - 140,278 140,278 140,278
Building - - 466,551 466,551 466,551
Staff Canteen - - 684,656 684,656 684,656
Water Treatment - - 649,411 649,411 649,411
Warehouse - - 13,708 13,708 13,708
----------------- ---------------- --------------------- -------------------- --------------------
TOTAL 11,175,884 26,670,090 20,370,490 31,546,373 47,040,580
Sch. 2 - Civil Construction
Prepaid Construction
(in RMB) 31-May-95 1-June-95 to 31-Mar-96
31-May-95 Appraised Value 31-Mar-96 31-Mar-96 Reappraised Value
Vendors Book Value Change in BV Book Value
Jiaozuo Geology Investigation 190,000 190,000 - 190,000 190,000
Xian City Construction 3,450,000 3,450,000 (3,450,000) - -
City Labor Services 1,809,324 1,809,324 1,500,010 3,309,334 3,309,334
Provincial Construction 5,500,000 5,500,000 6,476,395 11,976,395 11,976,395
Wushi 2nd Construction 766,790 766,790 (74,923) 691,867 691,867
Zheng Iron 40,000 40,000 2,700,000 2,740,000 2,740,000
Provincial Thermal 3,030,963 3,030,963 3,808,241 6,839,204 6,839,204
Provincial Zhongyuen 600,000 600,000 1,080,000 1,680,000 1,680,000
Xinxian Geology Investigation 900,000 900,000 1,200,000 2,100,000 2,100,000
City Electricity 400,000 400,000 (400,000) - -
Jiaozuo Electricity 400,000 400,000 (400,000) - -
Xinguang Installation 240,000 240,000 300,000 540,000 540,000
Xinxian Construction 34,000 34,000 (34,000) - -
Linzhou - - 500,000 500,000 500,000
Jiazuo United - - 1,980,000 1,980,000 1,980,000
Zhengzhou City Electric - - 400,000 400,000 400,000
Xxxxx Fire-proof Materials - - 560,000 560,000 560,000
----------------- ---------------- --------------- ------------ --------------
TOTAL 17,361,077 17,361,077 16,145,722 33,506,799 33,506,799
Sch. 3 - Prepaid Construction
Prepaid Equipment
(in RMB) 31-May-95 1-June-95 to 31-Mar-96
31-May-95 Appraised Value 31-Mar-96 31-Mar-96 Reappraised Value
Equipment Book Value Change in BV Book Value
#1 Turbine Machine 7,380,000 15,600,000 1,000,000 8,380,000 16,600,000
#1 Turbine Generator 6,011,000 12,003,894 - 6,011,000 12,003,894
Others 17,462,102 17,462,102 7,310,400 24,772,502 24,772,502
----------------- ---------------- --------------------- ------------------ -------------------
TOTAL 30,853,102 45,065,996 8,310,400 39,163,502 53,376,396
Sch. 4 - Prepaid Equipment
Equipment in Warehouse
(in RMB) 31-May-95 1-June-95 to 31-Mar-96
# of 31-May-95 Appraised Value 31-Mar-96 31-Mar-96 Reappraised Value
Items Unit Book Value Change in BV Book Value
#1 Boiler 1 20,700,000 37,000,000 - 20,700,000 37,000,000
#1 Boiler Transportation 996,417 996,417 - 996,417 996,417
Prepaid Boiler Service Fees 100,000 100,000 - 100,000 100,000
Water Pump for Boiler 1 2,406 2,406 - 2,406 2,406
Switch 1 565 565 - 565 565
Fan Machine 1 1,260 1,260 - 1,260 1,260
Exchange Set 2 214,500 214,500 - 214,500 214,500
Water Flow Reader 5 1,533 1,533 - 1,533 1,533
Motor 3 1,115 1,115 - 1,115 1,115
Pump 8 453,107 453,107 - 453,107 453,107
Ignition Set 8 230,000 230,000 230,000
High Pressure Static Remover 103,477 103,477 103,477
Turbine 780 780 780
Mixer 5 815,840 815,840 815,840
Breakers 2 476,100 476,100 476,100
Generator 3,000 3,000 3,000
SW2-110IW/160A 6 604,018 604,018 604,018
Isolated Switch 1 120,670 120,670 120,670
Electric Current Sensor 2,140 2,140 2,140
Electric Current Sensor 250 250 250
Electric Current Sensor 535 535 535
Electric Current Sensor 535 535 535
Voltage Sensor 3 152,705 152,705 152,705
Voltage Sensor 7 262,975 262,975 262,975
Electric Current Sensor 504 504 504
Switch 1 7,281 7,281 7,281
Switch 3 15,842 15,842 15,842
Isolated Switch 570 570 570
Isolated Switch 1,449 1,449 1,449
Isolated Switch 1,072 1,072 1,072
Electric Current Sensor 547 547 547
Electric Current Sensor 273 273 273
--------------- ---------------- ------------------- ----------------- ---------------
22,470,903 38,770,903 2,800,563 25,271,466 41,571,466
Sch. 5 - Equipment in Warehouse
Fixed Assets
31-Mar-96 31-Mar-96
(in RMB) Book Value Reappraised Value
Yangcheng 1021 135,000
Depreciation (36,043)
----------------- -----------------
Net 98,957 98,957
Audi 100 398,500
Depreciation -
----------------- -----------------
Net 398,500 398,500
Van 38,250
Depreciation (10,605)
----------------- -----------------
Net 27,645 27,645
Small Van 108,000
Depreciation (15,882)
----------------- -----------------
Net 92,118 92,118
total: 617,220 617,220
Sch. 6 - Fixed Assets
Inventory Raw Materials
(in RMB) 31-May-95 1-June-95 to 31-Mar-96
31-May-95 Appraised Value 31-Mar-96 31-Mar-96 Reappraised Value
Items Book Value Change in BV Book Value
Black Metal 8,835,452 8,935,973 (1,329,764) 7,505,688 7,505,688
Color Metal 24,208 24,208 10,185 34,393 34,393
Materials for Electricity Work 288,221 288,221 140 288,361 288,361
Hardware Materials 67 67 383 450 450
Screws - - 395 395 395
Auto Parts 397 397 5,940 6,337 6,337
Construction Materials 1,358,337 1,388,204 (392,315) 966,022 966,022
Water Heater 6,883 12,659 (3,070) 3,813 3,813
Low Value, Short Life Materials 5,119 5,119 96 5,215 5,215
Fuel - - 715 715 715
Labor Tools 2,370 2,370 3,348 5,718 5,718
----------------- ---------------- --------------------- --------------- -------------------
TOTAL 10,521,054 10,657,218 (1,703,947) 8,817,107 8,817,107
Sch. 7 - Inventory Raw Material
Other Investments
(in RMB) 31-May-95 31-Mar-96
31-May-95 Appraised Value 31-Mar-96 Reappraised Value
Book Value Book Value
Training 451,674 451,674
Furniture and Appliances 53,206 101,763 48,558
--------------- ---------------- ------------------ -------------------
TOTAL 53,206 553,438 500,232
Sch. 8 Other Investment
Deferred Expense
(in RMB) 31-May-95 1-June-95 to 31-Mar-96
31-May-95 Appraised Value 31-Mar-96 31-Mar-96 Appraised Value
Items to be Amortized Book Value Change in BV Book Value
Design Fee 3,053,983 3,053,983 1,020,000 4,073,983 4,073,983
Research & Experimental Fee 2,030 2,030 - 2,030 2,030
Feasibility Study 223,000 223,000 30,000 253,000 253,000
Environmental Evaluation 117,500 117,500 - 117,500 117,500
Temporary Pipeline 26,382 26,382 25,775 52,157 52,157
Loan Interest 13,911,399 21,465,647 13,809,260 27,720,659 35,274,907
Electricity 395,493 395,493 982,395 1,377,888 1,377,888
Office Expense 109,095 109,095 234,419 343,514 343,514
Travel 447,903 447,903 556,408 1,004,311 1,004,311
Entertainment 870,071 870,071 749,540 1,619,611 1,619,611
Salaries and Benefits 437,515 437,515 1,138,000 1,575,515 1,575,515
Other Compensation 211,040 211,040 122,654 333,694 333,694
Tax 11,621 11,621 14,687 26,308 26,308
Repair Fee 51,082 51,082 57,539 108,621 108,621
Insurance Fee 15,070 15,070 34,173 49,243 49,243
Printing Fee 8,392 8,392 7,082 15,474 15,474
Penalty Fee 1,877 1,877 1,125 3,002 3,002
Transportation Fee 43,032 43,032 114,696 157,728 157,728
Technical Information Fee 25,772 25,772 54,730 80,502 80,502
Material Consumption 198,629 198,629 193,567 392,196 392,196
Low value, short-live items 11,547 11,547 15,678 27,225 27,225
Other 142,194 142,194 657,538 799,732 799,732
----------------- ---------------- --------------------- ------------------ --------------
Subtotal 20,314,627 27,868,875 19,819,266 40,133,893 47,688,141
Office Equipment
(provided by the mill)
Passenger Vehicle 141,571 141,571
Coupe 450,000 450,000
Mini-van 42,000 42,000
Motor Cycle 1 13,500 13,500
Motor Cycle 2 6,200 6,200
Air-Conditioner 1 21,200 21,200
Air-Conditioner 2 8,500 8,500
Photocopy Machine 34,790 34,790
Typewriter 14,628 14,628
Color TV 1 5,738 5,738
Color TV 2 7,200 7,200
Picture Developing Machine 13,200 13,200
Security System 4,800 4,800
TV 9,600 9,600
Bicycles 1,604 1,604
Phone 14,280 14,280
Mobile Phone 56,400 56,400
Pagers 58,300 58,300
Furniture 93,542 93,542
----------------- ---------------- --------------------- ------------------ --------------
Subtotal 997,053 997,053
Jiangau Isuzu Van 127,100 127,100 - 127,100 127,100
Coupe 211,304 211,304 - 211,304 211,304
Gold Cup Sealion Van 358,900 358,900 - 358,900 358,900
Tianjin Honda Motor Cycle 11,050 11,050 - 11,050 11,050
Golden City Suzuki Motor Cycle 8,800 8,800 - 8,800 8,800
Telecommunication Network 186,214 186,214 19,638 205,852 205,852
Measurement Equipment 11,926 11,926 - 11,926 11,926
Water Level Measuring Equipment 1,634 1,634 - 1,634 1,634
TV 2,902 2,902 - 2,902 2,902
Camera 1,580 1,580 - 1,580 1,580
Other 1,280 1,280 2,967 4,247 4,247
Air Conditioner - - 185,920 185,920 185,920
Mobil Phone - - 39,470 39,470 39,470
----------------- ---------------- --------------------- ------------------ --------------
Subtotal 922,690 922,690 247,995 1,170,685 1,170,685
TOTAL 21,237,317 29,788,618 20,067,261 41,304,578 49,855,879
Sch. 9 - Deferred Expense
Other Receivables
(in RMB) 31-May-95 31-Mar-96
31-May-95 Appraised 31-Mar-96 Reappraised Value
Receivable Item Book Value Value Book Value
Advances to Employees 974,166 974,166
Machuan Finance Ministry 1,000,000 1,000,000
Daiwang Finance Ministry 50,000 50,000
Provincial No. 2 Construction 31,300 31,300
Provincial Construction Service 80,000 80,000
Jiaozuo Cable 700 700
Provincial Design Institute 5,000 5,000
Jiaozuo Xxxxxx Department 50,000 50,000
Zhengzhou Cable 600 600
Jiaozuo City Geology Investigation 470,000 470,000
City Electricity Department 130,000 130,000
Canteen 10,010 10,010
City North Transportation Station 1,248 1,248
----------------- ----------------- ---------------- ------------------
TOTAL 2,803,024 2,803,024
Sch 10 -Other Receivables
Other Payables
31-Mar-96
31-Mar-96 Reappraised Value
Content Book Value
Jiaozuo University (Xian Electricity University) Training 7,300 7,300
Provincial Construction Investment Purchase of Material 108,672 108,672
Shanghai Electric Construction Purchase of Material 188,000 188,000
City No. 2 Cement Factory Purchase of Material 9,500 9,500
Shishan Resource Trading Purchase of Material - -
City Resource Recycle Trading Co. Purchase of Material 84,292 84,292
Provincial Foreign Investment Resource Purchase of Material 1,939,351 1,939,351
Provincial Metallic Material Co. Purchase of Material 2,431,854 2,431,854
City Material Co. Purchase of Material 268,842 268,842
Provincial Metallic Material Development Co. Purchase of Material 81,043 81,043
Chungyuen Trading Co. Purchase of Material 2,774,514 2,774,514
Xian Electric Purchase of Equipmer 310,002 310,002
Zhengyeung Switch Purchase of Equipmer 616,290 616,290
Nantung Purchase of Equipmer 500,000 500,000
City Resources Limited Purchase of Material 23,205 23,205
Shanghai Boiler Purchase of Boiler 2,300,000 2,300,000
(Various Raw Material Suppliers) Purchase of Material 433,597 433,597
------------ -----------
12,076,462 12,076,462
Loan payable 12,500,000 13,000,000
Tax Payable (Construction Tax) 245,728 245,728
------------------------------ ------------ -----------
TOTAL 24,822,190 25,322,190
Sch. 11 Other Payables
Schedule B
List of Liabilities Assumed by Assignee
Equipment Contract
Jiaozuo Project
SCHEDULE B
List of Liabilities Assumed by Assignee
Equipment Contract
Contract Amount Paid as Amount O/S
Reference Equipment Name & Model Number Manufacturer Quantity Amount at Mar 31, 96 at Mar 31, 96
--------- ----------------------------- ------------ -------- ----------- ------------- -------------
1.a Turbine (RMB'000) (RMB'000) (RMB'000)
1 Turbine Machine #1, Shanghai Turbine 1 12,300 8,380 3,920
N125-13.24/535/535
2 Turbine Machine #2, Shanghai Turbine 1 13,000 3,900 9,100
N125-13.24/535/535
3 Turbine Generator #1, Shanghai Electric 1 8,103 6,011 2,092
QFS-125-2 13.8kv
4 Turbine Generator #2, Shanghai Electric 1 8,012 801 7,211
QFS-125-2 13.8kv
5 Air Condenser, N-71100-III, Shanghai Station 1 4,480 1,948 2,532
00000-0-0, JD-330-1
6 Low Pressure Heater, JD-220-4, Shanghai Station 1 930 93 837
JD-260-3, JD-260-2
7 High Pressure Heater, Shanghai Station 1 2,290 229 2,061
JG-490-3-1, JG-450-3-2
8 Pressure Reducing Set, C3D65-0 Shanghai Station 1 470 47 423
(WW202-0, X0X00-0, XX0-X000-0,
TP4-D602-0, TP4-D201-0)
9 Xxxxxxxx, 00000-0-0 Xxxxxxxx Station 1 35 4 32
10 Blowdown, 00000-0-0X Xxxxxxxx Station 1 45 5 41
11 Condensing Pump, 00XX-000 Xxxxxxxx Pump Factory 2 600 180 420
Motor, JSL 00-0 Xxxxxxxx Pump Factory 2 118 35 83
12 Water Supply Set, DGT 480-180 Shanghai Electric Construct 2 1,960 596 1,364
Water supply set motor, (Ordered by Shanghai 2 470 282 188
ykds-3200-2,6kv Electric)
13 Water Pump Set, 150NW-T8x2 Shanghai Pump Factory 2 81 24 57
Motor, y55kw, 2p, 380v Shanghai Pump Factory 2 21 6 15
14 Injection Pump, 250s-39A Shanghai Pump Factory 2 22 7 15
15 Motor, y250m-4,380v, 55kw Shanghai Pump Factory 2 19 6 13
16 Oil Pump 000x-000 Xxxxxxxx Pump Factory 1 15 5 11
Motor, YB 315 X0-000XX Xxxxxxxx Pump Factory 1 62 19 44
17 High Pressure Set, GS100, GL 440 Qingdao Boiler 2 1,600 1,100 500
18 Bridge Crane, 75/20t Dailian 1 1,460 1,022 438
19 Flushing Set Qingdao Electric Equipment 1 188 - 188
20 Extraction Set Shanghai Turbine 2 -
Steam Seal Heater Shanghai Turbine 1 200 - 200
21 Water Filter Qingdao Electric Equipment 2 17 - 17
22 Extraction Set B151.81.21, Shanghai 3 210 210
HB151.82.10
23 Heater for Starting Gas PxP-160T Changzhou Northern Power 4 152 - 152
----------- ------------- -----------------
56,861 24,699 32,162
1
Equipment Contract
Jiaozuo Project
SCHEDULE B
List of Liabilities Assumed by Assignee
Equipment Contract
Contract Amount Paid as Amount O/S
Reference Equipment Name & Model Number Manufacturer Quantity Amount at Mar 31, 96 at Mar 31, 96
--------- ----------------------------- ------------ -------- ----------- ------------- -------------
1.b Boiler
1 Boiler, XX 000/00.0-X000 Xxxxxxxx Boiler 1 23,000 20,700 2,300
2 Boiler, XX 000/00.0-X000 Xxxxxxxx Boiler 1 23,000 4,600 18,400
3 Ignition Set, KLD-2 Shanghai Boiler 8 230 230 -
4 Ignition Set, KLD-3 Shanghai Boiler 8 230 - 230
0 Xxxx Xxx #0, 000000-0 Xxxxxxxx Boiler 1 00 - 00
0 Xxxx Xxx #0, 000000-0 Xxxxxxxx Boiler 1 80 - 80
7 Neunatic Actuator, ZGSA-160x300, Shanghai Boiler 40 150 - 150
ZSZ-63x125
8 Neunatic Actuator, ZGSA-160x300, Shanghai Boiler 40 150 150
ZSZ-63x125
9 Ash Blower, 1K-525B (long) Hebei Machinery 4 534 160 374
Ash Blower, IR-3 (short) Hebei Machinery 24
10 Copper Coal Grinder, MG350, 600 Jiaozuo Xxxxxx Factory 2 3,600 1,080 2,520
11 Motor, YTM 630-6 Xiangtan Xxxxxx Factory 2 690 240 450
12 XXX, XXX-XXX/XXX-0-000x0-0 Chengzhou Electric Construct 2 5,700 1,995 3,705
13 Start-up Boiler, SZS10-1.25/ Tianjin Boiler 1 466 310 156
300-y
14 Coal Foeder, RMD063 Hebei Machinery Factory 2 140 - 140
15 Scroper Coal Fine Conveyer, Hebei Machinery Xxxxxxx 0 000 - 000
XXXXX00
16 Coarse Separator, XX-XX-I Qingdao Boiler 2 191 - 191
17 Fine Separator, HW-XB-I Qingdao Boiler 2 132 - 132
18 Fan (Separator), M5-29-11 Chengdu Machinery 2 284 120 164
19 Draft Fan, G4-73-11 Chengdu Machinery 2 156 120 36
20 Inducing Fan, X0-0X00-00 Xxxxxxx Machinery 2 1,260 760 500
21 Motor, YFKK450-4, XXXX0000-0, Xxxxxxxxx Electric 6 1,252 - 1,252
YFKK5001-4
22 Coal Greeze Feeder, GF-9 Zangyeung Electric 12 144 - 144
23 Fan Muffler, ZK-LT-20x3.2-A Chengdu Electric 2 140 - 140
24 Elevator, TLJ1000/1.0-JX.PC Changzhou Elavator 1 250 50 200
25 Lubricant Dilution, GDZ-63 Shenyang Xxxxxx 2 100 - 100
26 Injection Lubrication Set, Shenyang Lubrication Factory 2 78 - 78
SZP-2A ---------- -------- -------------
62,254 30,365 31,889
2
Equipment Contract
Jiaozuo Project
SCHEDULE B
List of Liabilities Assumed by Assignee
Equipment Contract
Contract Amount Paid as Amount O/S
Reference Equipment Name & Model Number Manufacturer Quantity Amount at Mar 31, 96 at Mar 31, 96
--------- ----------------------------- ------------ -------- ---------- ------------- -------------
2. Coal Handle
1 Truck Unloader, QX280-12 Hunan Electric Equipment 2 620 186 434
2 Bucket Wheel Reclaimer, Daichung Co. 1 3,700 500 3,200
DQL500/500-25
3 Screen, GGS-600 Shenyang Electric 2 200 - 200
0 Xxxxxx Xxxxxxx, XXX-0000 Xxxxx Xxxxxx Equipment 2 456 - 456
5 Iron Picker, RCDD-12 Jenjiang Magnetic Equipment 2 178 - 178
6 Iron Picker, RCDD-10 Jenjiang Magnetic Equipment 2 108 - 108
7 Blade Wheel Feeder, QYG-600A Shenyang Electric Machinery 2 590 - 590
8 Belt Conveyer, B 1000mm Jiaozuo Forklift 11 3,875 - 3,875
9 Plow Unloader, B 1000mm Zhengzou Electric Equipment 6 108 - 108
10 Electric Circuit, 800x800 Zhengzou Electric Equipment 4 36 - 36
11 Water Scrapper Zhengzou Electric Equipment 1 10 - 10
12 Seal of Coal Silo Shenyang Electric Machinery 269 121 - 121
13 Damper Air Lock, 4A Wuxi Electric Supply 4 60 - 60
14 Bulk Material Handle Wuxi Electric Supply 4 60 - 60
15 Xxxxx, XX Luoyang Forklift 1 42 - 42
16 Xxxxx, XX Luoyang Forklift 1 40 - 40
17 Electric Xxxx, XXX-X000 Jiangsu Electronic Scale 4 497 - 497
18 Truck Scale Balance Xishan Equipment 32 302 - 302
19 Electric motor vehicle Changzhou Limited Company 1 111 - 111
--------------- ----------- -------------
11,114 686 10,428
3. Ash and Slag
1 Xxxx Xxxxx, XX Xxx Xxxx Fortlift 1 35 - 35
2 Ash Discharge Valve, XZ320 Zhengzou Electric Equipment 12 31 - 31
3 Air Lock, DDBS-20/40 Zhengzou Electric Equipment 8 80 - 80
4 Air Lock, DDS-20 Zhengzou Electric Equipment 4 36 - 36
5 Three-Way Buffle Plate, 320x320 Zhengzou Electric Equipment 12 36 - 36
6 Truck Loading Equipment Zhengzou Electric Construct 1 58 - 58
7 Neumatic Transportation Pump, Zhejiang Electric Construct 8 640 - 640
CD4.0-1800
8 Neumatic Transportation Pump, Zhejiang Electric Construct 4 272 - 272
CD2.5-1600
Solinoid Valve, DFX-IID Zhejiang Electric Construct 6 96 - 96
9 Mixer/Feeder/Discharge Valve Nantong Construction Equip. 5 816 500 316
10 Oil Cooled Screw Air Compressor Shanghai Installation 4 940 - 940
Heater, DYK-30, DKY-45 Jiangsu Generation Equipment 6 150 - 150
--------------- ------------ --------------
3,190 500 2,690
3
Equipment Contract
Jiaozuo Project
SCHEDULE B
List of Liabilities Assumed by Assignee
Equipment Contract
Contract Amount Paid as at Amount O/S
Reference Equipment Name & Model Number Manufacturer Quantity Amount Mar 31, 96 at Mar 31, 96
--------- ----------------------------- ------------ -------- --------- ---------- -------------
4.Demineralization
1 H+Ion Exchanhger, 1800R+-1250 Xian Xibei Electric Construct 5 169 169
2 Cathode Ion Exchanger, 1800R- Xian Xibei Electric Construct 5 169 169
-1250
3 Mixed Ion Exchanger, 1250R+-5, Xian Xibei Electric Construct 2 52 38 14
R- -1000
4 CO2 Remover Xian Xibei Electric Construct 2 63 63
5 Resin Catcher Xian Xibei Electric Construct 4 12 12
6 Acid Absorber Xian Xibei Electric Construct 1 5 5
7 Acid Tank Central Electric 2 124 112 12
8 Alkaline Tank Central Electric 2 124 112 12
9 Acid Scaling Tank - Anode Bed City Demin. Group 1 9 9
10 Acid Scaling Tank - Mixed Bed City Demin. Group 1 7 7
11 Alkaline Scaling Tank - City Demin. Group 1 9 9
Cathode Bed
12 Alkaline Scaling Tank - City Demin. Group 1 7 7
Mixed Bed
13 Steel Filter Tank Anyeung Water Treatment 2 272 272
14 Installation Yixing Water Treatment 8 912
------------ ---------------- -------------
1,934 600 422
5.a.Electric System
1 Transformer, SFPZ7-90000/220 Xian Transformer 1 4,700 1,000 3,700
2 Transformer, SFP7-150000/110 Xian Transformer 1 4,300 1,000 3,300
3 Standby Transformer, Xian Transformer 1 1,240 1,240
SF27-20000/110
4 Transformer for the Plant, Xian Transformer 1 830 830
SF7-20000/13.8
5 Circuit Breaker, Zhenyeung Switch 2 456 300 156
SW2-220IIIW/1600A
6 Circuit Breaker, Zhenyeung Switch 6 588 300 288
SW2-110IW/1600A
7 Switch, GW8-110W/400A Zhenyeung Switch 1 7 7
8 Switch, GW8-60W/400A Zhenyeung Switch 3 15 15
9 Isolation Switch, GN23-20Z/8000A Zhenyeung Switch 1 118 118
10 Lightening Arrestor, Nanyeung Lightening Arrestor 6 180 180
Y10W-200/520(W)
11 Lightening Arrestor, Nanyeung Lightening Arrestor 15 233 20 213
Y10W-108/268(W)
12 Lightening, Y1W-146W Nanyeung Lightening Arrestor 1 17 17
13 Lightening, Y1W-60W Nanyeung Lightening Arrestor 3 22 22
14 Lightening, Y25W-16.7 Nanyeung Lightening Arrestor 3 3 3
15 Discharge Record, JSY-10 Nanyeung Lightening Arrestor 25 8 8
16 H.V.Panel Xinyeung Switch 7 510 102 408
4
Equipment Contract
Jiaozuo Project
SCHEDULE B
List of Liabilities Assumed by Assignee
Equipment Contract
Contract Amount Paid as Amount O/S
Reference Equipment Name & Model Number Manufacturer Quantity Amount at Mar 31, 96 at Mar 31, 96
--------- ----------------------------- ------------ -------- ---------- ------------- -------------
17 PT TYD220 Xian Electric 3 151 106 45
18 PT TYD110 Xian Electric 7 259 100 159
19 CT Zhenyeung Equipment 43 960 300 660
20 Isolation Switch, GW4 Wushun Electric 41 870 100 770
----------- ------------- -------------
15,466 3,508 11,958
6.b. Plant Power
0 Xxx Xxxxxxxxxxx, XXX0-0000/0, Beijing Transformer 4 614 614
SCL2-100
2 BGZN-27x2x300/220 Xinxian 755 2 1,354 1,354
BGZN-27-2x100/220 Xinxian 755 1 387 387
3 NIFE901-220-40 Shanghai 2 1,340 1,340
4 6KV high voltage box, JYN3-10 Xinhong Industrial Automatic 71 2,980 2,980
5 GSF-1 ACF Xinhong Industrial Automatic 8 281 281
6 XXX-0, XXXX-0 Xinhong Industrial Automatic 21 263 263
------------- ------------ --------------
7,219 7,219
Instrumentation
1 General DCS System Shenzhen 2 6,998 6,998
2 Boiler/Turbine Protection System Jiaozuo 1 1,370 1,370
3 Secondary Air Gate/Swing Cylinder Suian City 10 145 145
Central Panel, FDK-1
4 Thermal Set Control System Shenzhen Electric Power 2 1,979
5 Monitor System Shenzhen Wanyue 1 227 227
------------- ------------ --------------
10,719 8,740
8. Water System
1 Recirculation Pump, 1200HLCB3-19, Shanghai (KSB) 4 1,941 1,081 860
YL800KW10P6kv
2 Booster, 500S-22B Shanghai (KSB) 2 106 32 74
3 Crane, 16/3.2t Xin Xian 1 240 - 240
-------------- ------------ --------------
2,287 1,113 1,174
171,043 61,471 106,682
5
Construction Contract
SCHEDULE B
List of Liabilities Assumed by Assignee
Construction Contract
Amount
Total Prepaid Civil O/S
Ref# Project Contractor Amount Construction Construction March 31, 96
---- ------- ---------- ------- ------------ ------------ ------------
(RMB'000) (RMB'000) (RMB'000) (RMB'000)
1 Thermal System Henan Construction 28,440 28,440
Fuel System Henan Construction 12,040 12,040
Water Supply System Henan Construction 18,540 18,540
Turbine System Henan Construction 2,710 2,710
Water Treatment System Henan Construction 1,850 1,850
Generation Support System Henan Construction 2,130 2,130
Supplementary System Henan Construction 6,970 6,970
Other Henan Construction 4,370 4,370
-------- ---------------- -------------- --------------
77,050 12,940 14,820 49,290
2 Staff Dormitory Zhongyeun Construct 2,000 1,680 460 -
3 Dormitory Water & Electricity Xinguang Installation 800 540 260
Supply
Conference Room Xinguang Installation 70 70
--------- ---------------- -------------- --------------
870 540 - 330
4 No.I 110kv Cable Modification Jiaozuo Electric 570 570
No.II 110kv Cable Modification Jiaozuo Electric 560 560
---------- ---------------- -------------- --------------
1,130 -- 1,110 00
0 Xxxx Work Outside the Plant Jiaozuo City Construct 1,600 1,600
Tower Construction Jiaozuo City Construct 300 300
---------- ---------------- -------------- --------------
1,900 3,310 290 -
6 Cooling Tower Civil Work Hungda 1,620 -- -- 1,620
7 Canteen Outside the Plant Linzhou 1,120 500 250 370
8 Cooling Tower Fine Stone Xinxian 1,300 1,300
350 350
----------- --------------- -------------- --------------
1,650 2,100 390 -
9 Pole Zheng Iron 6,000 2,740 800 2,460
10 Water Well Jiaozuo Mineral Water 3,770 190 3,440 140
11 Warehouse Wushi 800 690 360 -
12 Underground Water Pipe City Water 1,980 -
13 Installation Provincial Thermal 150,000 6,840 3,110 140,050
14 Main Plant Construction Xian 6,190 - 6,190 -
15 Plant Wall Xxxxx 320 320 -
--------- ---------------- -------------- --------------
TOTAL 254,420 33,510 31,540 194,280
6
Schedule C
List of Approvals Not Obtained
Assignor acknowledges that as of the date hereof, it has not received
the following approvals:
1. Construction Engineering Permit
2. Construction Start Permit
D-1
