Qingdao Evercontaining Electric announced that it plans to finance not more than CNY 1 billion through a non-public offering. Net financing, with issuance expenses deducted, will be used to build Phase I 265MW own power plant of Sulawesi industrial park project in Indonesia. Investment in the Phase I reaches CNY 1.54 billion.

Electric power will be sold at CNY 0.7 per kilowatt hour in operation period. The company sets up overseas business headquarters in Singapore and strive to grow into a power service provider integrating resources and energy investment, design, general contracting, power equipment manufacturing and project operation.