GCHT China Turbine Corp (OTC:GCHT) to Develop Coastal Wind Power Project in China
Ft Lauderdale, Florida 11/19/2009 01:50 AM GMT (TransWorldNews)
GCHT China Turbine Corp (OTC:GCHT) has announced its entrance into a Memorandum of Understanding with the Yanchecn region government of Jiangsu province. The company will develop a manufacturing base to build large utility scale turbines for offshore and coastal use. GCHT plans to develop multiple offshore wind farms expected to generate 500 megawatt of power.
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The company’s initial estimates value the potential orders for a project at $732 million. GC China will work with regional venders and has identified local industry suppliers to benefit the venture as merger or acquisition opportunities. A 2010 campaign will soon be commenced to target regional acquisitions, upgrade key facilities, begin trial production, and manufacture new turbines.
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