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Originally, the Indonesia company decided to hire Shanghai Electric & Power Station Equipment to build a self-owned coal-burning power plant instead of the oil-fired one, but lately it intended to terminate the contract worth about USD 100 million, along with the plunge of international fuel prices.
Both parties are in talks about the amicable settlement, but there is a possibility of lawsuit, said people familiar with the matter.
As one of China's top power station equipment manufacturers, Shanghai Electric & Power Station Equipment mainly turns out steam turbines, generators, as well as boilers and auxiliary engines installed on power stations. Notably, it has been the world's No. 1 in terms of total output, sales, and orders of thermal power generation sets for seven consecutive years.
Source: dycj.ynet.com (June 03, 2009)
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