April 20, 2011 / 11:10 PM / in 6 years

Alstom, Shanghai Electric to set coal plant jv

PARIS, April 20 (Reuters) - French engineering group Alstom (ALSO.PA) said on Thursday that it had struck an agreement with Shanghai Electric Group (2727.HK) to establish a joint venture combining both companies’ power plant boiler divisions.

The joint venture, to be called Alstom-Shanghai Electric Boilers Co, would have combined sales of about 2.5 billion euros ($3.63 billion), Alstom said in a statement, adding that it would be registered in Shanghai with an operational headquarters in Singapore. ($1=.6883 Euro) (Reporting by Christian Plumb)

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