Hong Kong-listed independent distributor China Gas Holdings signed an agreement on Tuesday with the government of the prefecture of Xingtai in Hebei province to accelerate coal-to-gas switching, the local government announced on Wednesday.
China Gas will raise a total of RMB 10 billion ($1.45 billion), which will be used to switch 800,000 households in rural Xingtai from coal to gas over three years, according to the agreement.
China Gas invested more than RMB 80 million to connect 10,000 households in Xingtai’s Neiqiu county to the pipeline grid...
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