Gansu Power Investment Corporation reached an agreement with South Korean firm LG on an energy project in Wuwei city, Gansu province.

According to the contracts signed in Seoul, South Korea, on Oct 13, the Gansu company will provide 70 percent of the investment and LG will provide 30.

Wuwei cogeneration project is a key energy exploration project in Gansu and will pave the way for new generating projects and denitrification devices.

With 3.08 billion yuan of investment, the project is expected to generate 3.5 billion KWH of electricity per year. The new heating models will improve Wuwei's air quality, said the investor from Gansu Power Investment Corporation.

Edited by Andrew Ancheta