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AEP's Clements To Chair Board Of Joint Venture For China Plant

COLUMBUS, Ohio, Nov. 22 /PRNewswire/ -- Nanyang General Light Electric Co. Ltd, a joint venture company that will build and operate a $172 million power plant in China, designated officers at its recent organizational board meeting.

Participating in the joint venture are AEP Pushan Power LDC, a subsidiary of AEP Resources Inc., which is a subsidiary of American Electric Power (NYSE: AEP); Henan Electric Power Development; and Nanyang Municipal Financial Development Co. AEP Pushan Power LDC holds a 70 percent interest in the joint venture company, with the other two participants each holding a 15 percent interest.

Donald Clements, president of AEP Resources, was confirmed chairman of the 10-member board of directors. Xu Xing Long, vice chief engineer of Electric Power of Henan, will serve as vice chairman of the board.

Construction on the plant, located near Nanyang City in Henan Province, is expected to begin in early 1997. The project, announced Sept. 22, will include two 125-megawatt coal-fired units.

Nanyang General Light Electric held its organization meeting at AEP headquarters in Columbus Nov. 12-14. As part of the meeting, a delegation of 16 representatives from Henan Province toured AEP's 1,300-megawatt Mountaineer Plant at New Haven, W.Va.

According to contracts signed among the parties, the joint venture agreement runs 24 years. Details concerning the power sales arrangement are spelled out in an agreement which specifies the minimum amount and price of the electricity the Chinese will buy from the plant.

The board has authorized contracts with Electric Power of Henan to construct and operate the plant. AEP Energy Services employees will visit China in early December to review design plans and visit manufacturing facilities.

Henan Electric Power Development Co., a subsidiary of Electric Power of Henan, collects capital for generation project development and develops, manages and completes power plant construction. Electric Power of Henan is a state-owned company involved in power generation, distribution, engineering and design, construction and research.

Nanyang Municipal Financial Development Co. is responsible for collection and management of funds belonging to the Nanyang Municipal Financial Council. Investments by the company provide local government a role in major economic development, construction or technological reformation projects.

AEP Resources pursues investment opportunities in international and domestic power projects. AEP, one of the nation's largest investor-owned utilities, provides electric energy to 7 million people in Ohio, Indiana, Michigan, West Virginia, Virginia, Tennessee and Kentucky. In addition, wholly owned subsidiaries provide power engineering, consulting and management services throughout the world. The company is based in Columbus, Ohio. News releases and other information about AEP can be found on the World Wide Web at http://www.aep.com.

SOURCE American Electric Power
 -0- 11/22/96


/CONTACT: Pat D. Hemlepp, Media Relations Manager, Corporate Communications, of American Electric Power, 614-223-1620/

(AEP)

CO: American Electric Power; Nanyang General Light Electric Co. Ltd. ST: Ohio IN: UTI SU: PER

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Date:Nov 22, 1996
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