The Combined Heat and Power (CHP) project of the State Grid signed contracts with the high-tech zone of Tai'an city on July 7.

The total planned investment for the CHP project of State Grid in Tai'an is about 5.9 billion yuan. The project will focus on energy efficiency and conservation, and environmental protection, putting it in line with the central government's long-term development plans. It will bring in revenue of about 1.8 billion yuan, and supply an annual tax revenue of about 200 million yuan.

The Shandong Electric Power Company of the State Grid and Tai'an city has agreed to a long-term bilateral strategic partnership to develop the project.

"The contract of the CHP project symbolizes the cooperation of Shandong Electric Power Company of State Grid and Tai'an city has entered a new stage", a Tai'an government official said.

"Tai'an has a superior geographic environment, abundant resources and a good investment environment. It is a dynamic and vigorous city with rapid development," General Manager of Shandong Electric Power Company of the State Grid, Ren Zifang said.

"Our company will actively join in the project construction of energy, transportation, current of materials and coal mine in Tai'an and we'll seek the cooperation within a larger scope," he added.

Editor: Li Jing

Source: Tai'an People's Government Information Office