The newly-formed Huatong will directly and indirectly own 27 gas distribution companies and three gas transportation companies, with approximately 1,500 employees across ten provinces (Jiangxi, Guangdong, Jiangsu, Zhejiang, Qinghai, Hunan, Liaoning, Jilin, Shandong and Hebei). The combined 4,000km pipeline network serves approximately 300,000 customers and supplies an annual gas volume of approximately 200 million cubic meters.
Stephen Chow, CEO of Huatong, said: “We are excited about the new brand and the combined capabilities of each company. We are fortunate to have a tremendous group of talented and dedicated employees at BMG and at Tongda and are looking forward to working with each of them to build an integrated company that will better serve our customers.”
Colin Tam, chairman of Huatong, said: “With the support, resources and expertise of our shareholders, Huatong will strive for steady growth while providing essential clean energy infrastructure to many cities in China.”
AEI operates businesses in power distribution, power generation, natural gas transportation and services, natural gas distribution, and retail fuel, with approximately 121,000 miles of power distribution and transmission lines, 2,277MW of electric power generation capacity, 4,920 miles of natural gas and gas liquids pipelines, 21,656 miles of natural gas pipeline distribution networks and approximately 1,800 owned and affiliated gasoline and compressed natural gas service stations.
