China-based private energy player Guanghui Energy Co., Ltd. (600256.SH) would raise no more than 7 billion yuan by making a private placement of no more than 735 million shares, said the company on later Monday.
Guanghui Energy plans to channel 1 billion yuan of the proceeds from the placement to a 100-mln-cu.m/year LNG plant project in Kazakhstan. The company plans to infuse 2 billion yuan in the building of a LNG distribution station in Nantong of east China's Jiangsu province.
The LNG distribution project has annual handling capacity of 1.15 million tonnes with total investment of 2.497 billion yuan. Plus, 2.5 billion yuan of proceeds would be used to fund the building of a freight railway line from Hongliuhe to Namao Lake in northwest China's Xinjiang Uygur Autonomous Region. Guanghui Energy said it would speed up the building of integrated industry chain eyeing the Belt and Road initiatives.
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