Finance / China
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China Natural Gas To Accelerate Expansion Plans
May 2008 | Corporate Financing News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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China Natural Gas Inc has announced its intentions to speed up its expansion plans in order to steal a march on its competitors, as China increasingly turns to cleaner energy sources to satiate its immense appetite for fuel. Chief Financial Officer Guo Lihong revealed that the provider of compressed natural gas (CNG) and liquefied natural gas (LNG) aims to 'become China's no. 1 in terms of CNG filling stations within the next two to three years', and is seeking to borrow US$60mn and raise US$70mn in new equity to do so.