BEIJING--June 30, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--With full authority from Jiangsu Guoxin Investment Group Limited (Guoxin Group) (Nanjing, China), the preparation office for Huai'an Gas Power Plant project was established under the organization of Jiangsu Huaiyin Electricity Company Limited (Huaiyin Electricity) (Huai'an, Jiangsu), a state-owned combined heat and power enterprise affiliated with Guoxin Group. The project will include the construction of four 390-megawatt (MW) combine-cycle gas turbine generating units in two phases. Two of the 390-MW units will be built in Phase I, for which Guoxin Group will invest $377 million. The plant will be located in the Chuzhou district of Huai'an city in eastern China's Jiangsu province on an 80-hectare plot. Presently, Guoxin Group is discussing the gas supply agreement for the project with PetroChina Company Limited ( NYSE:PTR ) (Beijing).