Tags: Trump Administration | china | west virginia | shale gas | energy

Chinese Energy Company Signs $83.7B Deal With West Virginia

Chinese Energy Company Signs $83.7B Deal With West Virginia
West Virginia Gov. Jim Justice (Sholten Singer/AP)

By    |   Thursday, 09 November 2017 04:52 PM

An energy giant in China signed a deal with West Virginia on Thursday to invest more than $83 billion in the state.

President Donald Trump and Chinese President Xi Jinping witnessed the signing of a Memorandum of Understanding (MOU) between West Virginia, represented by the state's Secretary of Commerce H. Wood Thrasher, and China Energy, represented by Ling Wen, in Beijing. The agreement says the company will spend $83.7 billion on chemical manufacturing projects and the development of shale gas in West Virginia.

"This is a great day for the state of West Virginia," Gov. Jim Justice said in a press release. "I've been saying for the last couple months that the tides are turning in West Virginia and this is proof. Today is another sign as we joined with my good friend President Trump to announce the largest investment in our state's history."

Added Sen. Joe Manchin, D-W.Va.: "I am thrilled Secretary Thrasher and China Energy have signed the Memorandum of Understanding [Thursday] in Beijing. I have always said that West Virginians are the hardest working people in the world. I'm glad China Energy recognizes this and is working with us to create jobs and economic growth in our state."

Thanks to a recent merger between two state-run energy companies, China Energy is the largest power company in the world with more than 200,000 employees, according to the West Virginia Department of Commerce.

Bloomberg reported the China Energy deal with West Virginia is part of several new Chinese investments in the U.S. that total $250 billion.

© 2018 Newsmax. All rights reserved.

   
1Like our page
2Share
Newsfront
President Donald Trump and Chinese President Xi Jinping witnessed the signing of an energy deal between West Virginia and China Energy, which will spend $83.7 billion on chemical manufacturing projects and the development of shale gas in West Virginia.
china, west virginia, shale gas, energy
258
2017-52-09
Thursday, 09 November 2017 04:52 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved