{"id":43329,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/assignment-and-assumption-contract-jiaozuo-aluminum-mill-and.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"assignment-and-assumption-contract-jiaozuo-aluminum-mill-and","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/planning\/assignment-and-assumption-contract-jiaozuo-aluminum-mill-and.html","title":{"rendered":"Assignment and Assumption Contract &#8211; Jiaozuo Aluminum Mill and Jiaozuo Wan Fang Power Co. Ltd."},"content":{"rendered":"<pre>                       ASSIGNMENT AND ASSUMPTION CONTRACT\n\n\n         This ASSIGNMENT AND ASSUMPTION CONTRACT (this 'Contract'),  dated as of\nthis 26th day of April,  1996, is between JIAOZUO ALUMINUM MILL ('Assignor') and\nJIAOZUO WAN FANG POWER COMPANY LIMITED ('Assignee').\n\n\n                                    RECITALS\n\n         WHEREAS,  Assignor  owns all right,  title and  interest  in and to the\nequipment, machinery, properties,  contracts, permits, licenses and other assets\nlisted on Schedule A attached hereto (the 'Project Assets');\n\n         WHEREAS,  pursuant to the Joint Venture  Contract dated as of March 27,\n1996 between  Assignor and Jiaozuo  Power  Partners,  L.P.  (the 'Joint  Venture\nContract'),  Assignor is required to transfer the Project  Assets to Assignee at\nthe time contributions to the registered capital of Assignee are made;\n\n         WHEREAS,  Assignor desires to assign to Assignee,  and Assignee desires\nto accept, all of Assignor's right,  title,  interest and benefits under, in and\nto, the Project  Assets and Assignee  desires to assume  certain  liabilities in\nconnection   therewith   as  listed  on   Schedule   B  attached   hereto   (the\n'Liabilities'), all on the terms and conditions set forth herein; and\n\n         WHEREAS, the transfer of the Project Assets under this Contract is made\nin consideration of Jiaozuo Power Partners, L.P. entering into the Joint Venture\nContract and in consideration of Assignee's assumption of the Liabilities listed\non Schedule B hereto;\n\n         NOW,  THEREFORE,  the parties  hereto,  intending to be legally  bound,\nagree as follows:\n\n         1.  Assignor  hereby  irrevocably  conveys,  transfers,  sets  over and\nassigns to Assignee (the 'Assignment'), and its successors and assignees, all of\nAssignor's right, title and interest in and to all of the Project Assets and all\nbenefits arising thereunder or therefrom,  such Assignment to take effect on the\nAssignment Date (as herein defined).\n\n         2. (a)  Subject to the terms and  conditions  herein,  Assignee  hereby\nassumes the Liabilities  specifically listed on Schedule B hereto, provided that\nAssignee  shall not assume any  liability  in  connection  with the  Project (as\ndefined  in the Power  Purchase  and Sale  Contract  dated as of April 26,  1996\nbetween Assignor and Assignee), the Project Assets or this Contract,  whether or\nnot listed on  Schedule B, until the  Assignment  Date or such later date as the\nAssignment becomes effective under Section 4. Assignor specifically acknowledges\nand agrees that  Assignee does not assume any liability not listed on Schedule B\nand that Assignee shall have no  responsibility  for any liability in connection\nwith the\n\n\n                                      -1-\n\n\nProject,  the Project Assets or this Contract  prior to the  Assignment  Date or\nsuch later date as the Assignment becomes effective under Section 4.\n\n         (b) All  debts and  liabilities  of  Assignor  in  connection  with the\nProject  (other  than those  listed on  Schedule  B),  whether  now  existing or\nhereafter  arising,  shall be the sole obligation of Assignor and shall not give\nrise to any actual or contingent  Lien (as herein defined) on any portion of the\nProject, the Project Assets, Assignee, any assets of Assignee or any interest in\nAssignee.  Assignee  shall  not be  liable  for any such  debts or  liabilities.\nAssignor shall be obligated to repay such debts and liabilities in full and upon\nsuch repayment shall provide  evidence  satisfactory to Assignee that such debts\nand  liabilities  have  been  paid in full  and  that all  claims  and  liens in\nconnection therewith have been released.\n\n         3.  Each  party  hereto  agrees  that it shall  execute  or cause to be\nexecuted  promptly  after request by the other such  documents or instruments as\nmay be  reasonably  required  for  the  purpose  of or in  connection  with  the\nassignment  by Assignor of the Project  Assets or the  assumption by Assignee of\nthe Liabilities pursuant to this Contract.\n\n         4. Notwithstanding anything contained herein, to the extent the consent\nof any third party is required as a condition to the  assignment  of any Project\nAsset, the Assignment,  insofar as it encompasses such Project Asset,  shall not\nbe effective unless and until such consent shall have been obtained and Assignor\nshall:  (a) until such time as such  consent  shall have been  obtained,  to the\nextent possible obtain for Assignee the benefits of such Project Asset as though\nthe Assignment had been effective with respect to such Project Asset; and (b) be\nobligated  to obtain the consent of such third  party.  At such time as Assignor\nshall  obtain  the  required  consent to the  assignment  of any  Project  Asset\nretained  by  Assignor   pursuant  to  this  Section  4,  the  Assignment  shall\nimmediately  become  effective  in  accordance  with the terms of this  Contract\nwithout the need for further  action or further  documentation  by either  party\nhereto. This Section 4 shall not apply to any transfer that does not require any\nthird party's consent.\n\n         5. The  'Assignment  Date' shall be the date on which this  Contract is\nformally signed by Assignor and Assignee, which date shall be after the business\nlicense is issued to Assignee.\n\n         6. Assignor  represents  and warrants to and covenants with Assignee as\nfollows:\n         (a) Assignor has all necessary corporate power and authority to execute\nand perform its obligations under this Contract;  the signing and performance by\nAssignor of this Contract have been duly  authorized by all necessary  corporate\naction on its  part;  and this  Contract  has been  duly and  validly  signed by\nAssignor and constitutes its legal, valid and binding obligation, enforceable in\naccordance with its terms.\n\n\n                                      -2-\n\n\n         (b) No  authorizations,  approvals  or  consents  of, and no filings or\nregistrations  with,  any  governmental  or  regulatory  authority or agency are\nnecessary for the signing or performance by Assignor of this Contract or for the\nvalidity or enforceability thereof.\n\n         (c) So long as  provisions  of this  Contract  are in effect,  Assignor\nshall (i)  preserve  and maintain its  corporate  existence;  (ii)  preserve and\nmaintain all of its material rights, privileges and franchises; and (iii) comply\nwith the requirements of all applicable laws,  rules,  regulations and orders of\ngovernmental or regulatory authorities.\n\n         (d)  Assignor  is the sole legal and  beneficial  owner of the  Project\nAssets free and clear of any Lien other than the Liabilities  listed on Schedule\nB. 'Lien' means,  with respect to any  property,  any  mortgage,  lien,  pledge,\ncharge,  security interest,  encumbrance,  option, contract right or other third\nparty right of any kind in respect of such property.\n\n         (e) The  Project  Assets  are in a good  state of  repair  and  working\ncondition  and comprise of all of the assets,  rights and  privileges  which are\ncurrently or have been used or required by Assignor to carry on the Project.\n\n         (f) There are no options or other  agreements or contracts  outstanding\nwhich  provide for the sale or transfer or the right to require the  creation of\nany Lien over the Project Assets or any part thereof.\n\n         (g)  Assignee  shall upon taking over the Project  Assets have full and\ncomplete  right,  title and interest in and to the Project Assets free and clear\nof all Liens.\n\n         (h) Neither  Assignor nor any of its  employees is engaged in or is the\nsubject of any litigation or arbitration, administrative or criminal proceedings\nwhich may affect the Project Assets or the Project.\n\n         (i) All the  books and  records  and other  materials  relevant  to the\nProject have been fully,  properly  and  accurately  maintained  on a consistent\nbasis and have been turned over to Assignee.\n\n         (j)  Except as  expressly  listed on  Schedule C hereto,  Assignor  has\nconducted work in connection with the Project in all respects in accordance with\nall applicable laws,  permits and regulations of the People's  Republic of China\nand is  not  currently  in  violation  of  such  applicable  laws,  permits  and\nregulations  including without limitation those of the environmental  protection\nagency.  The Project  and its  business as  contemplated  will not violate  such\napplicable laws and regulations  referred to above.  Assignor  acknowledges that\nthe approvals  listed on Schedule C have not been obtained and believes that the\nlack of such approvals  will not have a serious impact on the Project.  Assignor\nagrees to provide relevant  government  support  document(s) and try its best to\nhold the Assignee harmless against losses in connection therewith.\n\n                                      -3-\n\n\n         (k)  Assignor  has  disclosed  to Assignee in writing full and complete\ncopies of all contracts and  arrangements  entered into prior to the date hereof\nin respect of the Project  Assets and the  Projects;  and Assignor is not at the\ndate hereof a party to or subject to any agreement which is outside the ordinary\ncourse of the business of the Project.\n\n         (l) There are no claims of third parties or  liabilities or obligations\nof any kind relating directly or indirectly to the Project or the Project Assets\nexcept the Liabilities set forth on Schedule B hereto.\n\n         (m) There are no contracts, obligations,  agreements or arrangements to\nwhich Assignor is a party or by which Assignor is bound which are void,  illegal\nor unenforceable under or contravening any laws, regulations or permits.\n\n         (n)  Assignor  is not in  default  under  any  provision  of any of the\ncontracts  relating to the  Project to be assigned to Assignee  and no event has\noccurred  which  constitutes a default,  or with the giving of default notice or\nthe passage of the default cure  period,  would  constitute a default  under the\nforegoing contracts.\n\n         (o) The approvals,  contracts and insurance  policies to be assigned to\nAssignee are and will be on the date of such assignment in full force and effect\nin accordance with their terms.\n\n         (p) All  representations  and warranties  made by Assignor will be true\nthroughout the term of Assignee as a joint venture.\n\n         (q) Assignor believes that the construction of the power plant complies\nwith all applicable laws, permits and regulations.\n\n         (r) No tax  liability  shall be  incurred  by  Assignee  as a result of\nAssignor's  transfer of the Project Assets to Assignee as Assignor  contribution\nto the registered capital of Assignee.\n\n         (s) Work relating to the Project that has been  completed  prior to the\nAssignment  Date or such later date as the Assignment  becomes  effective  under\nSection 4 is free from  defects  in title,  conforms  to  standards  of  design,\nmaterials  and  workmanship  prevailing  in the  industry  and  conforms  in all\nrespects to the construction contract(s).\n\n         (t)  Warranties  provided by  manufacturers  or  otherwise on equipment\ntransferred and other Project Assets are valid as of the Assignment Date or such\nlater date as the Assignment becomes effective under Section 4.\n\n         (u) Assignor shall notify  Assignee  immediately in writing if Assignor\nbecomes aware of any  circumstances  that might make any of the  representations\nand warranties hereunder untrue or misleading.\n\n                                      -4-\n\n\n         7. Assignor shall,  and does hereby agree to,  indemnify  Assignee for,\nand hold it harmless from, (a) any and all liability, loss or damage (other than\nto the extent resulting from the Liabilities  listed on Schedule B hereto) which\nmay be incurred under or by reason of this Contract or any breach by Assignor of\nany of the representations, warranties, covenants or the terms of this Contract,\n(b) any and all claims and  demands  whatsoever  which may be  asserted  against\nAssignee by reason of this Contract (other than to the extent resulting from the\nLiabilities listed on Schedule B hereto), (c) any and all claim, liability, loss\nor damage  relating  to the  Project  or  Project  Assets  arising  prior to the\nAssignment  Date or such later date as the Assignment is effective under Section\n4 and (d) any and all claim,  liability,  loss or damage relating to the Project\nor  Project  Assets  arising  after  Assignment  Date or such  later date as the\nAssignment is effective under Section 4 (other than to the extent resulting from\nthe  Liabilities  listed on Schedule B hereto),  including in the case of any of\nthe  foregoing  items  (a)  through  (d)  all  costs,  expenses  and  reasonable\nattorneys'  fees,  but excluding  any such loss,  liability,  damage,  claims or\ndemands  to  the  extent  resulting  directly  from  Assignee's   misconduct  or\nnegligence.\n\n         8. (a) Both parties agree that the total value of the Project Assets as\nof March 31, 1996 is an amount not less than RMB  301,648,069  and not exceeding\nRMB312,808,069 (the 'Price Range').  Both parties shall endeavor to agree on the\nprecise value of the Project  Assets (the 'Final  Price') within the Price Range\nprior to May 17, 1996. Upon reaching agreement on the Final Price, (i) the Final\nPrice shall be stated in Schedule A and Schedule B; (ii) both parties shall sign\nSchedule A and Schedule B, which  signatures  shall be evidence that the parties\nhave reached agreement on the Final Price; and (iii) the transfer of the Project\nAssets from  Assignor to Assignee in an amount equal to the Final Price shall be\ndeemed to have been made on the Assignment Date.\n\n         (b) Notwithstanding  Section 8(a), the effective date of the Assignment\nis the Assignment Date.\n\n         (c) On the date the  parties  reach  agreement  on the Final  Price,  a\nportion of the Final  Price equal to RMB  134,274,000  shall be  converted  into\nAssignor's  contribution to the registered capital of Assignee and the remaining\namount of the Final  Price  shall be  deemed  to be the  first  drawdown  on the\nshareholder loan required to be provided by Assignor to Assignee pursuant to the\nJoint Venture Contract.\n\n         (d) Both  parties  recognize  that certain of the  contracts  listed on\nSchedule  B are not  based on fixed  prices  and that  certain  contract  prices\nspecified in Schedule B are subject to change. Assignee shall be responsible for\nany such  price  changes  except  those  price  changes  that have been  already\naccounted for in the Valuation  Report of the Assets of Jiaozuo  Aluminum Mill's\nSelf-Supply  Power  Plant  by  Henan  Provincial  Ownership  Rights  and  Assets\nValuation  Company,  Ltd.  dated June 28,  1995,  which price  changes  shall be\nAssignor's responsibility.\n\n\n                                      -5-\n\n\n         9.  Failure by either  party to exercise  any of its rights  under this\nContract  shall not  constitute a waiver of such rights.  Neither party shall be\ndeemed to have  waived any right  resulting  from any  failure to perform by the\nother party unless it has made such waiver specifically in writing.\n\n         10. (a) The parties shall attempt to settle any dispute  arising out of\nor in  connection  with this  Contract  through  friendly  consultation  between\nthemselves. Such consultation shall begin promptly after one party has delivered\nto the other party a written  request for such  consultation.  If the parties do\nnot reach an amicable solution within 30 days of receipt of such notice,  either\nparty may,  with  notice to the other  party,  submit the  dispute  for  binding\narbitration  in Beijing,  China,  under the auspices of the China  International\nEconomic and Trade  Arbitration  Commission  ('CIETAC') in  accordance  with the\nCIETAC  Arbitration  Rules as in effect on the date of this Contract  (except to\nthe extent this Section 10 specifies different  procedures,  in which event such\nprocedures  shall  govern  the  arbitration,  including  the  selection  of  the\narbitration  panel).  The parties  agree that any  dispute  arising out of or in\nconnection  with this Contract shall be submitted  exclusively to arbitration as\nprovided in this Section 10. Any settlement  and award rendered  through such an\narbitration  proceeding  shall be final  and  binding  upon the  parties  if the\ndecision  is  in  writing  and  contains  a  reasoned  analysis  explaining  the\narbitrators'  reasons  for  rendering  the  award.  The  parties  agree that the\narbitral award may be enforced against the parties or their assets wherever they\nmay be found and that a judgment  upon the arbitral  award may be entered in any\ncourt having jurisdiction  thereof.  Accordingly,  the parties irrevocably agree\nthat any action to enforce such judgment may be instituted wherever  appropriate\nand each party hereby  irrevocably  waives,  to the fullest extent  permitted by\nlaw, any objection which it may have now or hereafter to the laying of the venue\nor the  jurisdiction  or the  convenience  of the forum of any such  action  and\nirrevocably  submits  generally and  unconditionally  to the jurisdiction of any\nsuch court in any such action.\n\n         (b) The  arbitration  shall be conducted in English and Chinese and the\narbitration shall refer to the English and Chinese texts of this Contract.\n\n         (c) There shall be three arbitrators. The parties shall each select one\narbitrator  within 30 days after giving or receiving the demand for arbitration.\nThe two arbitrators  selected by the parties shall select the third  arbitrator.\nIf a party does not  appoint an  arbitrator  who has  consented  to  participate\nwithin  30 days  after  the  selection  of the first  arbitrator,  the  relevant\nappointment  shall be made by the arbitrating body. The costs of the arbitration\nshall be borne by the parties as determined by the arbitration tribunal,  taking\ninto account the relative merits of the positions of the parties.\n\n         (d) Each party is subject to civil and commercial  law and  irrevocably\nagrees that this Contract is a commercial  rather than a public or  governmental\nactivity and neither party is entitled to claim immunity from legal  proceedings\nwith  respect to itself or any of its assets on the  grounds of  sovereignty  or\notherwise  under any law or in any  jurisdiction  where an action may be brought\nfor the enforcement of any of the obligations  arising under or relating\n\n                                      -6-\n\n\nto this  Contract.  To the  extent  that a  party  or any of its  assets  has or\nhereafter may acquire any right to immunity from any set-off, legal proceedings,\nattachment or execution of judgment on the grounds of  sovereignty or otherwise,\neach party  hereby  irrevocably  waives such right to immunity in respect of its\nobligations arising under or relating to this Contract.\n\n         (e) The parties hereby agree to carry out their respective  obligations\nunder this  Contract,  including  without  limitation  all payment  obligations,\nnotwithstanding any pending dispute or controversy.\n\n         11. This  Contract may be amended or modified  only by an instrument in\nwriting signed by both parties.\n\n         12. This Contract will be executed in four counterparts in both Chinese\nand English versions. Each version shall be of equal force and effect.\n\n         13. This Contract shall be governed by and construed in accordance with\nthe laws of the People's Republic of China.\n\n         14. The  invalidity  of any  provision or portion of this Contract will\nnot affect the validity of the remainder of this Contract.\n\n         15. This Contract  contains the complete  agreement between the parties\nwith  respect  to  the  matters   contained  herein  and  supersedes  all  other\nagreements,  whether  written or oral,  with  respect to the  matters  contained\nherein.\n\n         16. This Contract and the  Assignment  shall become  effective upon the\nformal  signing by both parties of this Contract  after the business  license is\nissued to Assignee.\n\n         IN  WITNESS  WHEREOF,  each  of the  parties  hereto  has  caused  this\nAssignment  and  Assumption  Contract  to  be  signed  by  its  duly  authorized\nrepresentative on the date first set forth above.\n\n                                          JIAOZUO ALUMINUM MILL\n\n                                          By: \/s\/ [SIGNATURE ILLEGIBLE]\n                                             ---------------------------\n                                          Name:\n                                          Title:\n\n                                          JIAOZUO WAN FANG POWER COMPANY LIMITED\n\n                                          By: \/s\/ Edward C. Hall, III\n                                             ---------------------------\n                                          Name: \n                                          Title:\n\n\n                                       -7-\n\n\n\n                                   Schedule A\n\n                             List of Project Assets\n\n         This  Schedule A includes the list of Project  Assets in the  following\npages and any and all other property and assets,  whether tangible or intangible\nand wherever located,  relating to the Project or any aspect of its development,\nconstruction,  ownership,  financing  or  operation,  whether  in  the  name  of\nAssignor,  any of its  affiliates  or any other party  (including  the contracts\nlisted on Schedule B and the rights and interests thereunder).\n\n                                     \n                                   SCHEDULE A\n\nJIAOZUO POWER STATION PROJECT\nTotal Assets and Liabilities to be Transferred to the Joint Venture Company\n(in RMB)\n\n\n<font size=\"2\">                                                                                                                1-June-95 to\n                                                                    31-May-95          Adjustment to              31-Mar-96       \n                                               31-May-95         Appraised Value      Appraised Value       Change in Book Value\nAsset Type                                     Book Value                                                                       \n                                                                                               \nLand Use Right                                    8,601,274           81,940,628          (1,830,000)                7,598,845    \nCivil Construction &amp; Installation                11,175,884           26,670,090                   -                20,370,490   \nPrepaid Construction                             17,361,078           17,361,078                   -                16,145,721    \nPrepaid Equipment                                30,853,102           48,039,898          (2,973,902)                8,310,400    \nEquipment in Warehouse                           22,470,903           38,770,903                   -                 2,800,563    \nFixed Assets                                              -                    -                   -                   617,220   \nInventory - Raw Materials                        10,521,054           10,657,218                   -                (1,840,111)   \nOther Investment                                     53,206                    -                   -                   500,232    \nDeferred Expenses                                21,237,317           29,788,617                   -                20,067,261    \nOther Receivables                                 2,224,327            2,224,327                   -                   578,697   \nCash &amp; Cash Equivalents                           4,229,322            4,229,322                   -                 4,541,607    \n                                          ===================== =================== ===================== =========================\n\nTotal Assets                                    128,727,467          259,682,081          (4,803,902)               79,690,925    \n                                          ===================== =================== ===================== =========================\n\nLiabilities\nOther Payables                                                                                                                     \n\n                                          --------------------- ------------------- --------------------- -------------------------\n\nTotal Liabilities                                                                                                              \n\nCapital\nContributed by PRC Partners\n                                          ===================== =================== ===================== =========================\n\nTotal Liab. &amp; Capital                               \n                                          ===================== =================== ===================== =========================\n\n\n<\/font>\n\n<font size=\"2\">                                               31-Mar-96\n                                            Reappraised Value    Reference Pages\nAsset Type                                  (JV Opening Bal.)\n                                                           \nLand Use Right                                 80,110,628           Sche. # 1\nCivil Construction &amp; Installation              47,040,580           Sche. # 2\nPrepaid Construction                           33,506,799           Sche. # 3\nPrepaid Equipment                              53,376,396           Sche. # 4\nEquipment in Warehouse                         41,571,466           Sche. # 5\nFixed Assets                                      617,220           Sche. # 6\nInventory - Raw Materials                       8,817,107           Sche. # 7\nOther Investment                                  500,232           Sche. # 8\nDeferred Expenses                              49,855,878           Sche. # 9\nOther Receivables                               2,803,024           Sche. # 10\nCash &amp; Cash Equivalents                         8,770,929\n                                          =====================\n\nTotal Assets                                  326,970,259\n                                          =====================\n\nLiabilities\nOther Payables                                 25,322,190           Sche. # 11\n\n                                          ---------------------\n\nTotal Liabilities                              25,322,190\n\n\nCapital\nContributed by PRC Partners                   301,648,069\n                                          =====================\n\nTotal Liab. &amp; Capital                         326,970,259\n                                          =====================\n\n\n<\/font>\n                                      Mam\n\n\n\n<font size=\"2\">Land Use Right\n\n                                      (in RMB)                        1-June-95 to\n                                     31-May-95      31-May-95          31-Mar-96          31-Mar-96           31-Mar-96\nAccount Items                        Book Value   Appraised Value     Change in BV        Book Value       Reappraised Value\n                                                                                           \nLand Acquiring Fee\n    (area of 481,492.1 m2)           7,755,754      81,940,628          7,413,189        15,168,943           80,110,628\nLand Investigation Fee                 461,000                              -               461,000                  -\nTemporary Facility                     332,220                            185,656           517,876                  -\nElectricity Transformer                 52,300                              -                52,300                  -\n                                ----------------- ----------------- ----------------- ---------------    ---------------------\n\n                    TOTAL            8,601,274      81,940,628          7,598,845        16,200,119           80,110,628\n\n<\/font>\n                            Sch. 1 - Land Use Right\n\n\n\n\nCivil Construction\n\n<font size=\"2\">                                   (in RMB)         31-May-95         1-June-95 to                                31-Mar-96\n                                   31-May-95      Appraised Value       31-Mar-96             31-Mar-96        Reappraised Value\nProjects                           Book Value                          Change in BV          Book Value\n                                                                                                      \nWell #1                             315,171            490,601              -                  315,171              490,601\nWell #2                             339,440            483,230              -                  339,440              483,230\nWell #3                             343,855            491,980              -                  343,855              491,980\nWell #4                             316,897            483,293              -                  316,897              483,293\nWell #5                             341,097            484,294              -                  341,097              484,294\nWell #6                             337,545            484,508              -                  337,545              484,508\nWell #7                             337,513            484,098              -                  337,513              484,098\nWell #8                             347,742            491,868              -                  347,742              491,868\nWell #9                             139,020            496,880              -                  139,020              496,880\nWell #10                            355,068            497,433              -                  355,068              497,433\nWall Surrounding the Well           184,030            184,031            19,235               203,265              203,266\nLand Work on Water Source            60,000                  -              -                   60,000                    -\nMain Plant Land Civil Work        5,946,279         10,558,400           246,060             6,192,339           10,804,460\nCooling Tower Civil Work             40,766          1,440,000           341,878               382,644            1,781,878\nPlant Entrance Road Work            161,355          1,766,400           132,610               293,965            1,899,010\nPlant Area Wall Construction        316,460            336,000             8,416               324,876              344,416\nMain Bridge                         499,988          3,724,600           302,507               802,495            4,027,107\nChemney                             347,149          1,376,956         1,004,596             1,351,745            2,381,552\nDormitory                           383,695          1,632,000            81,132               464,827            1,713,132\nRaw Material Storage                 62,814            763,518           284,954               347,768            1,048,472\nFine Stone                             -                  -                5,000                 5,000                5,000\nRoad for Coal Transport                -                  -                5,250                 5,250                5,250\nRoad Correction                        -                  -            1,111,440             1,111,440            1,111,440\nThermal Power Company                  -                  -            3,107,372             3,107,372            3,107,372\nMain Plant Construction                -                  -           11,510,549            11,510,549           11,510,549\nCanteen Outside the Plant              -                  -              254,888               254,888              254,888\nBoiler Room                            -                  -              140,278               140,278              140,278\nBuilding                               -                  -              466,551               466,551              466,551\nStaff Canteen                          -                  -              684,656               684,656              684,656\nWater Treatment                        -                  -              649,411               649,411              649,411\nWarehouse                              -                  -               13,708                13,708               13,708\n                               ----------------- ---------------- --------------------- -------------------- --------------------\n\nTOTAL                            11,175,884         26,670,090        20,370,490            31,546,373           47,040,580\n<\/font>\n\n                           Sch. 2 - Civil Construction\n\n\n\nPrepaid Construction\n\n\n<font size=\"2\">                                 (in RMB)         31-May-95       1-June-95 to                     31-Mar-96\n                                  31-May-95      Appraised Value   31-Mar-96      31-Mar-96    Reappraised Value\nVendors                           Book Value                     Change in BV    Book Value\n                                                                                 \nJiaozuo Geology Investigation       190,000           190,000               -        190,000        190,000\nXian City Construction            3,450,000         3,450,000      (3,450,000)             -              -\nCity Labor Services               1,809,324         1,809,324       1,500,010      3,309,334      3,309,334\nProvincial Construction           5,500,000         5,500,000       6,476,395     11,976,395     11,976,395\nWushi 2nd Construction              766,790           766,790         (74,923)       691,867        691,867\nZheng Iron                           40,000            40,000       2,700,000      2,740,000      2,740,000\nProvincial Thermal                3,030,963         3,030,963       3,808,241      6,839,204      6,839,204\nProvincial Zhongyuen                600,000           600,000       1,080,000      1,680,000      1,680,000\nXinxian Geology Investigation       900,000           900,000       1,200,000      2,100,000      2,100,000\nCity Electricity                    400,000           400,000        (400,000)             -              -\nJiaozuo Electricity                 400,000           400,000        (400,000)             -              -\nXinguang Installation               240,000           240,000         300,000        540,000        540,000\nXinxian Construction                 34,000            34,000         (34,000)             -              -\nLinzhou                                   -                 -         500,000        500,000        500,000\nJiazuo United                             -                 -       1,980,000      1,980,000      1,980,000\nZhengzhou City Electric                   -                 -         400,000        400,000        400,000\nChang Fire-proof Materials                -                 -         560,000        560,000        560,000\n                              ----------------- ---------------- --------------- ------------   --------------\n\n                  TOTAL          17,361,077        17,361,077      16,145,722     33,506,799     33,506,799\n\n<\/font>\n                         Sch. 3 - Prepaid Construction\n\n\n\nPrepaid Equipment\n\n\n<font size=\"2\">\n                              (in RMB)          31-May-95          1-June-95 to                             31-Mar-96\n                               31-May-95      Appraised Value       31-Mar-96            31-Mar-96      Reappraised Value\nEquipment                      Book Value                          Change in BV          Book Value\n                                                                                               \n#1 Turbine Machine              7,380,000        15,600,000          1,000,000           8,380,000         16,600,000\n#1 Turbine Generator            6,011,000        12,003,894                  -           6,011,000         12,003,894\nOthers                         17,462,102        17,462,102          7,310,400          24,772,502         24,772,502\n                            ----------------- ---------------- --------------------- ------------------ -------------------\n\n                  TOTAL        30,853,102        45,065,996          8,310,400          39,163,502         53,376,396\n\n<\/font>\n                           Sch. 4 - Prepaid Equipment\n\n\n\n\nEquipment in Warehouse\n\n\n<font size=\"2\">\n                                               (in RMB)         31-May-95        1-June-95 to                         31-Mar-96\n                                  # of        31-May-95      Appraised Value      31-Mar-96          31-Mar-96    Reappraised Value\nItems                              Unit       Book Value                         Change in BV        Book Value\n                                                                                                 \n#1 Boiler                            1        20,700,000        37,000,000               -            20,700,000        37,000,000\n#1 Boiler Transportation                         996,417           996,417               -               996,417           996,417\nPrepaid Boiler Service Fees                      100,000           100,000               -               100,000           100,000\nWater Pump for Boiler                1             2,406             2,406               -                 2,406             2,406\nSwitch                               1               565               565               -                   565               565\nFan Machine                          1             1,260             1,260               -                 1,260             1,260\nExchange Set                         2           214,500           214,500               -               214,500           214,500\nWater Flow Reader                    5             1,533             1,533               -                 1,533             1,533\nMotor                                3             1,115             1,115               -                 1,115             1,115\nPump                                 8           453,107           453,107               -               453,107           453,107\nIgnition Set                         8                                             230,000               230,000           230,000\nHigh Pressure Static Remover                                                       103,477               103,477           103,477\nTurbine                                                                                780                   780               780\nMixer                                5                                             815,840               815,840           815,840\nBreakers                             2                                             476,100               476,100           476,100\nGenerator                                                                            3,000                 3,000             3,000\nSW2-110IW\/160A                       6                                             604,018               604,018           604,018\nIsolated Switch                      1                                             120,670               120,670           120,670\nElectric Current Sensor                                                              2,140                 2,140             2,140\nElectric Current Sensor                                                                250                   250               250\nElectric Current Sensor                                                                535                   535               535\nElectric Current Sensor                                                                535                   535               535\nVoltage Sensor                       3                                             152,705               152,705           152,705\nVoltage Sensor                       7                                             262,975               262,975           262,975\nElectric Current Sensor                                                                504                   504               504\nSwitch                               1                                               7,281                 7,281             7,281\nSwitch                               3                                              15,842                15,842            15,842\nIsolated Switch                                                                        570                   570               570\nIsolated Switch                                                                      1,449                 1,449             1,449\nIsolated Switch                                                                      1,072                 1,072             1,072\nElectric Current Sensor                                                                547                   547               547\nElectric Current Sensor                                                                273                   273               273\n                                            --------------- ---------------- ------------------- ----------------- ---------------\n                                              22,470,903        38,770,903       2,800,563            25,271,466        41,571,466\n\n<\/font>\n\n                        Sch. 5 - Equipment in Warehouse\n\n\n\nFixed Assets\n\n\n<font size=\"2\">                                                                    31-Mar-96              31-Mar-96\n                                                   (in RMB)         Book Value         Reappraised Value\n                                                                             \nYangcheng 1021                                         135,000\nDepreciation                                           (36,043)\n                                               ----------------- -----------------\n                                          Net                             98,957            98,957\nAudi 100                                               398,500\nDepreciation                                                 -\n                                               ----------------- -----------------\n                                          Net                            398,500           398,500\nVan                                                     38,250\nDepreciation                                           (10,605)\n                                               ----------------- -----------------\n                                          Net                             27,645            27,645\nSmall Van                                              108,000\nDepreciation                                           (15,882)\n                                               ----------------- -----------------\n                                          Net                             92,118            92,118\n\n                            total:                                       617,220           617,220\n\n<\/font>\n\n\n                             Sch. 6 - Fixed Assets\n\n\n\n\n\n\nInventory Raw Materials\n\n\n<font size=\"2\">\n\n                                          (in RMB)         31-May-95         1-June-95 to                          31-Mar-96\n                                          31-May-95      Appraised Value       31-Mar-96         31-Mar-96      Reappraised Value\nItems                                     Book Value                          Change in BV      Book Value\n                                                                                                         \nBlack Metal                               8,835,452         8,935,973         (1,329,764)       7,505,688          7,505,688\nColor Metal                                  24,208            24,208             10,185           34,393             34,393\nMaterials for Electricity Work              288,221           288,221                140          288,361            288,361\nHardware Materials                               67                67                383              450                450\nScrews                                            -                 -                395              395                395\nAuto Parts                                      397               397              5,940            6,337              6,337\nConstruction Materials                    1,358,337         1,388,204           (392,315)         966,022            966,022\nWater Heater                                  6,883            12,659             (3,070)           3,813              3,813\nLow Value, Short Life Materials               5,119             5,119                 96            5,215              5,215\nFuel                                              -                 -                715              715                715\nLabor Tools                                   2,370             2,370              3,348            5,718              5,718\n                                     ----------------- ---------------- --------------------- --------------- -------------------\n\n                  TOTAL                  10,521,054        10,657,218         (1,703,947)       8,817,107          8,817,107\n\n<\/font>\n\n                        Sch. 7 - Inventory Raw Material\n\n\n\n\nOther Investments\n\n\n<font size=\"2\">\n                                                   (in RMB)         31-May-95                            31-Mar-96\n                                                  31-May-95      Appraised Value      31-Mar-96      Reappraised Value\n                                                  Book Value                         Book Value\n                                                                                          \nTraining                                                                               451,674            451,674\nFurniture and Appliances                             53,206                            101,763             48,558\n                                               --------------- ---------------- ------------------ -------------------\n\n                  TOTAL                              53,206                            553,438            500,232\n\n<\/font>\n\n                            Sch. 8 Other Investment\n\n\n\nDeferred Expense\n\n\n\n<font size=\"2\">                                         (in RMB)         31-May-95         1-June-95 to                             31-Mar-96\n                                         31-May-95      Appraised Value       31-Mar-96            31-Mar-96       Appraised Value\nItems to be Amortized                    Book Value                          Change in BV         Book Value\n                                                                                                      \nDesign Fee                               3,053,983         3,053,983          1,020,000           4,073,983          4,073,983\nResearch &amp; Experimental Fee                  2,030             2,030                  -               2,030              2,030\nFeasibility Study                          223,000           223,000             30,000             253,000            253,000\nEnvironmental Evaluation                   117,500           117,500                  -             117,500            117,500\nTemporary Pipeline                          26,382            26,382             25,775              52,157             52,157\nLoan Interest                           13,911,399        21,465,647         13,809,260          27,720,659         35,274,907\nElectricity                                395,493           395,493            982,395           1,377,888          1,377,888\nOffice Expense                             109,095           109,095            234,419             343,514            343,514\nTravel                                     447,903           447,903            556,408           1,004,311          1,004,311\nEntertainment                              870,071           870,071            749,540           1,619,611          1,619,611\nSalaries and Benefits                      437,515           437,515          1,138,000           1,575,515          1,575,515\nOther Compensation                         211,040           211,040            122,654             333,694            333,694\nTax                                         11,621            11,621             14,687              26,308             26,308\nRepair Fee                                  51,082            51,082             57,539             108,621            108,621\nInsurance Fee                               15,070            15,070             34,173              49,243             49,243\nPrinting Fee                                8,392             8,392              7,082              15,474             15,474\nPenalty Fee                                 1,877             1,877              1,125               3,002              3,002\nTransportation Fee                         43,032            43,032            114,696             157,728            157,728\nTechnical Information Fee                  25,772            25,772             54,730              80,502             80,502\nMaterial Consumption                      198,629           198,629            193,567             392,196            392,196\nLow value, short-live items                11,547            11,547             15,678              27,225             27,225\nOther                                     142,194           142,194            657,538             799,732            799,732\n                                      ----------------- ---------------- --------------------- ------------------ --------------\n\n                  Subtotal             20,314,627        27,868,875         19,819,266          40,133,893         47,688,141\n\nOffice Equipment\n(provided by the mill)\n\nPassenger Vehicle                                           141,571                                                   141,571\nCoupe                                                       450,000                                                   450,000\nMini-van                                                     42,000                                                    42,000\nMotor Cycle 1                                                13,500                                                    13,500\nMotor Cycle 2                                                 6,200                                                     6,200\nAir-Conditioner 1                                            21,200                                                    21,200\nAir-Conditioner 2                                             8,500                                                     8,500\nPhotocopy Machine                                            34,790                                                    34,790\nTypewriter                                                   14,628                                                    14,628\nColor TV 1                                                    5,738                                                     5,738\nColor TV 2                                                    7,200                                                     7,200\nPicture Developing Machine                                   13,200                                                    13,200\nSecurity System                                               4,800                                                     4,800\nTV                                                            9,600                                                     9,600\nBicycles                                                      1,604                                                     1,604\nPhone                                                        14,280                                                    14,280\nMobile Phone                                                 56,400                                                    56,400\nPagers                                                       58,300                                                    58,300\nFurniture                                                    93,542                                                    93,542\n                                      ----------------- ---------------- --------------------- ------------------ --------------\n\n                  Subtotal                                  997,053                                                   997,053\n\n\n\nJiangau Isuzu Van                         127,100           127,100                  -             127,100            127,100\nCoupe                                     211,304           211,304                  -             211,304            211,304\nGold Cup Sealion Van                      358,900           358,900                  -             358,900            358,900\nTianjin Honda Motor Cycle                  11,050            11,050                  -              11,050             11,050\nGolden City Suzuki Motor Cycle              8,800             8,800                  -               8,800              8,800\nTelecommunication Network                 186,214           186,214             19,638             205,852            205,852\nMeasurement Equipment                      11,926            11,926                  -              11,926             11,926\nWater Level Measuring Equipment             1,634             1,634                  -               1,634              1,634\nTV                                          2,902             2,902                  -               2,902              2,902\nCamera                                      1,580             1,580                  -               1,580              1,580\nOther                                       1,280             1,280              2,967               4,247              4,247\nAir Conditioner                                 -                 -            185,920             185,920            185,920\nMobil Phone                                     -                 -             39,470              39,470             39,470\n                                      ----------------- ---------------- --------------------- ------------------ --------------\n\n                  Subtotal                922,690           922,690            247,995           1,170,685          1,170,685\n\n                  TOTAL                21,237,317        29,788,618         20,067,261          41,304,578         49,855,879\n\n<\/font>\n\n                           Sch. 9 - Deferred Expense\n\n\n\n\nOther Receivables\n\n\n<font size=\"2\">                                                                  \n                                          (in RMB)                        31-May-95                             31-Mar-96\n                                                       31-May-95          Appraised        31-Mar-96      Reappraised Value\nReceivable Item                                        Book Value           Value          Book Value\n                                                                                           \nAdvances to Employees                                                                         974,166            974,166\nMachuan Finance Ministry                                                                    1,000,000          1,000,000\nDaiwang Finance Ministry                                                                       50,000             50,000\nProvincial No. 2 Construction                                                                  31,300             31,300\nProvincial Construction Service                                                                80,000             80,000\nJiaozuo Cable                                                                                     700                700\nProvincial Design Institute                                                                     5,000              5,000\nJiaozuo Minery Department                                                                      50,000             50,000\nZhengzhou Cable                                                                                   600                600\nJiaozuo City Geology Investigation                                                            470,000            470,000\nCity Electricity Department                                                                   130,000            130,000\nCanteen                                                                                        10,010             10,010\nCity North Transportation Station                                                               1,248              1,248\n                                                    ----------------- ----------------- ---------------- ------------------\n\n                  TOTAL                                                                     2,803,024          2,803,024\n\n<\/font>\n                           Sch 10 -Other Receivables\n\n\n\n\nOther Payables\n\n\n<font size=\"2\">                                                                                                              31-Mar-96\n                                                                                           31-Mar-96      Reappraised Value\n                                                    Content                               Book Value\n                                                                                                \nJiaozuo University (Xian Electricity University)    Training                                 7,300              7,300\nProvincial Construction Investment                  Purchase of Material                   108,672            108,672\nShanghai Electric Construction                      Purchase of Material                   188,000            188,000\nCity No. 2 Cement Factory                           Purchase of Material                     9,500              9,500\nShishan Resource Trading                            Purchase of Material                         -                  -\nCity Resource Recycle Trading Co.                   Purchase of Material                    84,292             84,292\nProvincial Foreign Investment Resource              Purchase of Material                 1,939,351          1,939,351\nProvincial Metallic Material Co.                    Purchase of Material                 2,431,854          2,431,854\nCity Material Co.                                   Purchase of Material                   268,842            268,842\nProvincial Metallic Material Development Co.        Purchase of Material                    81,043             81,043\nChungyuen Trading Co.                               Purchase of Material                 2,774,514          2,774,514\nXian Electric                                       Purchase of Equipmer                   310,002            310,002\nZhengyeung Switch                                   Purchase of Equipmer                   616,290            616,290\nNantung                                             Purchase of Equipmer                   500,000            500,000\nCity Resources Limited                              Purchase of Material                    23,205             23,205\nShanghai Boiler                                     Purchase of Boiler                   2,300,000          2,300,000\n(Various Raw Material Suppliers)                    Purchase of Material                   433,597            433,597\n                                                                                        ------------       -----------\n\n                                                                                        12,076,462         12,076,462\n\nLoan payable                                                                            12,500,000         13,000,000\n\nTax Payable (Construction Tax)                                                             245,728            245,728\n- ------------------------------                                                          ------------       -----------\n\nTOTAL                                                                                   24,822,190         25,322,190\n\n<\/font>\n\n                             Sch. 11 Other Payables\n\n\n\n\n                                   Schedule B\n\n                     List of Liabilities Assumed by Assignee\n\n\n                                                    Equipment Contract\nJiaozuo Project\n\nSCHEDULE B\n\nList of Liabilities Assumed by Assignee\n\nEquipment Contract\n\n\n<font size=\"2\">                                                                                        Contract  Amount Paid as       Amount O\/S\n    Reference      Equipment Name &amp; Model Number    Manufacturer             Quantity     Amount    at Mar 31, 96     at Mar 31, 96\n    ---------      -----------------------------    ------------             --------  -----------  -------------     -------------\n                                                                                                       \n1.a Turbine                                                                             (RMB'000)    (RMB'000)          (RMB'000)\n         1         Turbine Machine #1,              Shanghai Turbine             1       12,300        8,380              3,920\n                   N125-13.24\/535\/535\n         2         Turbine Machine #2,              Shanghai Turbine             1       13,000        3,900              9,100\n                   N125-13.24\/535\/535\n         3         Turbine Generator #1,            Shanghai Electric            1        8,103        6,011              2,092\n                   QFS-125-2 13.8kv\n         4         Turbine Generator #2,            Shanghai Electric            1        8,012          801              7,211\n                   QFS-125-2 13.8kv\n         5         Air Condenser, N-71100-III,      Shanghai Station             1        4,480        1,948              2,532\n                    61401-0-0, JD-330-1\n         6         Low Pressure Heater, JD-220-4,   Shanghai Station             1          930           93                837\n                    JD-260-3, JD-260-2\n         7         High Pressure Heater,            Shanghai Station             1        2,290          229              2,061\n                    JG-490-3-1, JG-450-3-2\n         8         Pressure Reducing Set, C3D65-0   Shanghai Station             1          470           47                423\n                    (WW202-0, Y3D23-0, TP4-D601-0,\n                    TP4-D602-0, TP4-D201-0)\n         9         Blowdown, 71102-0-0              Shanghai Station             1           35            4                 32\n        10         Blowdown, 71202-0-0A             Shanghai Station             1           45            5                 41\n        11         Condensing Pump, 12NL-160        Shanghai Pump Factory        2          600          180                420\n                   Motor, JSL 12-4                  Shanghai Pump Factory        2          118           35                 83\n        12         Water Supply Set, DGT 480-180    Shanghai Electric Construct  2        1,960          596              1,364\n                   Water supply set motor,          (Ordered by Shanghai         2          470          282                188\n                       ykds-3200-2,6kv                 Electric)\n        13         Water Pump Set, 150NW-T8x2       Shanghai Pump Factory        2           81           24                 57\n                   Motor, y55kw, 2p, 380v           Shanghai Pump Factory        2           21            6                 15\n        14         Injection Pump, 250s-39A         Shanghai Pump Factory        2           22            7                 15\n        15         Motor, y250m-4,380v, 55kw        Shanghai Pump Factory        2           19            6                 13\n        16         Oil Pump 150y-150                Shanghai Pump Factory        1           15            5                 11\n                   Motor, YB 315 L1-160KW           Shanghai Pump Factory        1           62           19                 44\n        17         High Pressure Set, GS100, GL 440 Qingdao Boiler               2        1,600        1,100                500\n        18         Bridge Crane, 75\/20t             Dailian                      1        1,460        1,022                438\n        19         Flushing Set                     Qingdao Electric Equipment   1          188            -                188\n        20         Extraction Set                   Shanghai Turbine             2                                            -\n                   Steam Seal Heater                Shanghai Turbine             1          200            -                200\n        21         Water Filter                     Qingdao Electric Equipment   2           17            -                 17\n        22         Extraction Set B151.81.21,       Shanghai                     3          210                             210\n                    HB151.82.10\n        23         Heater for Starting Gas PxP-160T Changzhou Northern Power     4          152            -                152\n                                                                                      ----------- ------------- -----------------\n                                                                                         56,861       24,699             32,162\n\n<\/font>\n                                       1\n\n\n\n\n                                                    Equipment Contract\nJiaozuo Project\n\nSCHEDULE B\n\nList of Liabilities Assumed by Assignee\n\nEquipment Contract\n\n\n<font size=\"2\">\n                                                                                         Contract  Amount Paid as       Amount O\/S\n    Reference      Equipment Name &amp; Model Number    Manufacturer             Quantity     Amount    at Mar 31, 96     at Mar 31, 96\n    ---------      -----------------------------    ------------             --------  -----------  -------------     -------------\n                                                                                                        \n1.b Boiler\n\n         1         Boiler, SG 420\/13.7-M419         Shanghai Boiler              1       23,000       20,700              2,300\n         2         Boiler, SG 420\/13.7-M419         Shanghai Boiler              1       23,000        4,600             18,400\n         3         Ignition Set, KLD-2              Shanghai Boiler              8          230          230                  -\n         4         Ignition Set, KLD-3              Shanghai Boiler              8          230            -                230\n         5         Wind Box #1, 651419-4            Shanghai Boiler              1           80            -                 80\n         6         Wind Box #2, 651419-4            Shanghai Boiler              1           80            -                 80\n         7         Neunatic Actuator, ZGSA-160x300, Shanghai Boiler             40          150            -                150\n                    ZSZ-63x125\n         8         Neunatic Actuator, ZGSA-160x300, Shanghai Boiler             40          150                             150\n                    ZSZ-63x125\n         9         Ash Blower, 1K-525B (long)       Hebei Machinery              4          534          160                374\n                   Ash Blower, IR-3 (short)         Hebei Machinery             24\n        10         Copper Coal Grinder, MG350, 600  Jiaozuo Minery Factory       2        3,600        1,080              2,520\n        11         Motor, YTM 630-6                 Xiangtan Minery Factory      2          690          240                450\n        12         ESP, RWD-KFH\/JZL-1-108x3-2       Chengzhou Electric Construct 2        5,700        1,995              3,705\n        13         Start-up Boiler, SZS10-1.25\/     Tianjin Boiler               1          466          310                156\n                    300-y\n        14         Coal Foeder, RMD063              Hebei Machinery Factory      2          140            -                140\n        15         Scroper Coal Fine Conveyer,      Hebei Machinery Factory      1          217            -                217\n<\/font>                     RMSSF40\n        16         Coarse Separator, HW-CB-I        Qingdao Boiler               2          191            -                191\n<font size=\"2\">        17         Fine Separator, HW-XB-I          Qingdao Boiler               2          132            -                132\n        18         Fan (Separator), M5-29-11        Chengdu Machinery            2          284          120                164\n        19         Draft Fan, G4-73-11              Chengdu Machinery            2          156          120                 36\n        20         Inducing Fan, Y4-2X60-01         Chengdu Machinery            2        1,260          760                500\n        21         Motor, YFKK450-4, YFKK6301-8,    Zangyeung Electric           6        1,252            -              1,252\n                    YFKK5001-4\n        22         Coal Greeze Feeder, GF-9         Zangyeung Electric          12          144            -                144\n        23         Fan Muffler, ZK-LT-20x3.2-A      Chengdu Electric             2          140            -                140\n        24         Elevator, TLJ1000\/1.0-JX.PC      Changzhou Elavator           1          250           50                200\n        25         Lubricant Dilution, GDZ-63       Shenyang Minery              2          100            -                100\n        26         Injection Lubrication Set,       Shenyang Lubrication Factory 2           78            -                 78\n                    SZP-2A                                                               ----------  --------     -------------\n                                                                                         62,254       30,365             31,889\n<\/font>\n                                       2\n\n\n\n\n\n                                                    Equipment Contract\nJiaozuo Project\n\nSCHEDULE B\n\nList of Liabilities Assumed by Assignee\n\nEquipment Contract\n\n\n\n<font size=\"2\">                                                                                         Contract   Amount Paid as    Amount O\/S\n     Reference     Equipment Name &amp; Model Number    Manufacturer             Quantity      Amount     at Mar 31, 96   at Mar 31, 96\n     ---------     -----------------------------    ------------             --------    ----------   -------------   -------------\n                                                                                                      \n2. Coal Handle\n         1         Truck Unloader, QX280-12         Hunan Electric Equipment      2         620          186                434\n         2         Bucket Wheel Reclaimer,          Daichung Co.                  1        3,700         500              3,200\n                    DQL500\/500-25\n         3         Screen, GGS-600                  Shenyang Electric             2          200           -                200\n         4         Hopper Crusher, PCH-1016         Hebei Minery Equipment        2          456           -                456\n         5         Iron Picker, RCDD-12             Jenjiang Magnetic Equipment   2          178           -                178\n         6         Iron Picker, RCDD-10             Jenjiang Magnetic Equipment   2          108           -                108\n         7         Blade Wheel Feeder, QYG-600A     Shenyang Electric Machinery   2          590           -                590\n         8         Belt Conveyer, B 1000mm          Jiaozuo Forklift             11        3,875           -              3,875\n         9         Plow Unloader, B 1000mm          Zhengzou Electric Equipment   6          108           -                108\n        10         Electric Circuit, 800x800        Zhengzou Electric Equipment   4           36           -                 36\n        11         Water Scrapper                   Zhengzou Electric Equipment   1           10           -                 10\n        12         Seal of Coal Silo                Shenyang Electric Machinery 269          121           -                121\n        13         Damper Air Lock, 4A              Wuxi Electric Supply          4           60           -                 60\n        14         Bulk Material Handle             Wuxi Electric Supply          4           60           -                 60\n        15         Crane, LD                        Luoyang Forklift              1           42           -                 42\n        16         Crane, LD                        Luoyang Forklift              1           40           -                 40\n        17         Electric Belt, TCS-Y901          Jiangsu Electronic Scale      4          497           -                497\n        18         Truck Scale Balance              Xishan Equipment             32          302           -                302\n        19         Electric motor vehicle           Changzhou Limited Company     1          111           -                111\n                                                                                        --------------- ----------- -------------\n                                                                                          11,114         686             10,428\n\n\n3. Ash and Slag\n         1         Boam Crane, LD                   Luo Yang Fortlift             1          35            -                 35\n         2         Ash Discharge Valve, XZ320       Zhengzou Electric Equipment  12          31            -                 31\n         3         Air Lock, DDBS-20\/40             Zhengzou Electric Equipment   8          80            -                 80\n         4         Air Lock, DDS-20                 Zhengzou Electric Equipment   4          36            -                 36\n         5         Three-Way Buffle Plate, 320x320  Zhengzou Electric Equipment  12          36            -                 36\n         6         Truck Loading Equipment          Zhengzou Electric Construct   1          58            -                 58\n         7         Neumatic Transportation Pump,    Zhejiang Electric Construct   8         640            -                640\n                    CD4.0-1800\n         8         Neumatic Transportation Pump,    Zhejiang Electric Construct   4         272            -                272\n                    CD2.5-1600\n                   Solinoid Valve, DFX-IID          Zhejiang Electric Construct   6          96            -                 96\n         9         Mixer\/Feeder\/Discharge Valve     Nantong Construction Equip.   5         816          500                316\n        10         Oil Cooled Screw Air Compressor  Shanghai Installation         4         940            -                940\n                    Heater, DYK-30, DKY-45          Jiangsu Generation Equipment  6         150            -                150\n                                                                                     --------------- ------------ --------------\n                                                                                          3,190          500              2,690\n\n<\/font>\n                                       3\n\n\n\n\n                                                    Equipment Contract\nJiaozuo Project\n\nSCHEDULE B\n\nList of Liabilities Assumed by Assignee\n\nEquipment Contract\n\n\n<font size=\"2\">                                                                                          Contract  Amount Paid as at   Amount O\/S\n       Reference   Equipment Name &amp; Model Number    Manufacturer               Quantity    Amount     Mar 31, 96      at Mar 31, 96\n       ---------   -----------------------------    ------------               --------  ---------    ----------      -------------\n                                                                                                       \n4.Demineralization\n         1         H+Ion Exchanhger, 1800R+-1250    Xian Xibei Electric Construct  5        169          169\n         2         Cathode Ion Exchanger, 1800R-    Xian Xibei Electric Construct  5        169          169\n                    -1250\n         3         Mixed Ion Exchanger, 1250R+-5,   Xian Xibei Electric Construct  2         52           38                 14\n                    R- -1000\n         4         CO2 Remover                      Xian Xibei Electric Construct  2         63                              63\n         5         Resin Catcher                    Xian Xibei Electric Construct  4         12                              12\n         6         Acid Absorber                    Xian Xibei Electric Construct  1          5                               5\n         7         Acid Tank                        Central Electric               2        124          112                 12\n         8         Alkaline Tank                    Central Electric               2        124          112                 12\n         9         Acid Scaling Tank - Anode Bed    City Demin. Group              1          9                               9\n        10         Acid Scaling Tank - Mixed Bed    City Demin. Group              1          7                               7\n        11         Alkaline Scaling Tank -          City Demin. Group              1          9                               9\n                    Cathode Bed\n        12         Alkaline Scaling Tank -          City Demin. Group              1          7                               7\n                    Mixed Bed\n        13         Steel Filter Tank                Anyeung Water Treatment        2        272                             272\n        14         Installation                     Yixing Water Treatment         8        912\n                                                                                        ------------ ---------------- -------------\n                                                                                          1,934          600                422\n\n\n5.a.Electric System\n         1         Transformer, SFPZ7-90000\/220     Xian Transformer               1      4,700        1,000               3,700\n         2         Transformer, SFP7-150000\/110     Xian Transformer               1      4,300        1,000               3,300\n         3         Standby Transformer,             Xian Transformer               1      1,240                            1,240\n                    SF27-20000\/110\n         4         Transformer for the Plant,       Xian Transformer               1        830                              830\n                    SF7-20000\/13.8\n         5         Circuit Breaker,                 Zhenyeung Switch               2        456          300                 156\n                    SW2-220IIIW\/1600A\n         6         Circuit Breaker,                 Zhenyeung Switch               6        588          300                 288\n                    SW2-110IW\/1600A\n         7         Switch, GW8-110W\/400A            Zhenyeung Switch               1          7                                7\n         8         Switch, GW8-60W\/400A             Zhenyeung Switch               3         15                               15\n         9         Isolation Switch, GN23-20Z\/8000A Zhenyeung Switch               1        118                              118\n        10         Lightening Arrestor,             Nanyeung Lightening Arrestor   6        180          180\n                    Y10W-200\/520(W)\n        11         Lightening Arrestor,             Nanyeung Lightening Arrestor  15        233           20                 213\n                    Y10W-108\/268(W)\n        12         Lightening, Y1W-146W             Nanyeung Lightening Arrestor   1         17                               17\n        13         Lightening, Y1W-60W              Nanyeung Lightening Arrestor   3         22                               22\n        14         Lightening, Y25W-16.7            Nanyeung Lightening Arrestor   3          3                                3\n        15         Discharge Record, JSY-10         Nanyeung Lightening Arrestor  25          8                                8\n        16         H.V.Panel                        Xinyeung Switch                7        510          102                 408\n\n<\/font>\n                                       4\n\n\n\n\n                                                    Equipment Contract\nJiaozuo Project\n\nSCHEDULE B\n\nList of Liabilities Assumed by Assignee\n\nEquipment Contract\n\n\n<font size=\"2\">                                                                                          Contract    Amount Paid as    Amount O\/S\n    Reference      Equipment Name &amp; Model Number    Manufacturer             Quantity       Amount     at Mar 31, 96  at Mar 31, 96\n    ---------      -----------------------------    ------------             --------    ----------    -------------  -------------\n                                                                                                    \n       17          PT TYD220                        Xian Electric                 3         151          106                 45\n       18          PT TYD110                        Xian Electric                 7         259          100                159\n       19          CT                               Zhenyeung Equipment          43         960          300                660\n       20          Isolation Switch, GW4            Wushun Electric              41         870          100                770\n\n                                                                                         -----------  ------------- -------------\n                                                                                         15,466        3,508             11,958\n6.b. Plant Power\n        1          Dry Transformer, SCL2-1250\/6,    Beijing Transformer           4         614                             614\n                       SCL2-100\n        2          BGZN-27x2x300\/220                Xinxian 755                   2       1,354                           1,354\n                   BGZN-27-2x100\/220                Xinxian 755                   1         387                             387\n        3          NIFE901-220-40                   Shanghai                      2       1,340                           1,340\n        4          6KV high voltage box, JYN3-10    Xinhong Industrial Automatic 71       2,980                           2,980\n        5          GSF-1 ACF                        Xinhong Industrial Automatic  8         281                             281\n        6          GKG-1, GFKG-6                    Xinhong Industrial Automatic 21         263                             263\n                                                                                         ------------- ------------ --------------\n                                                                                          7,219                           7,219\nInstrumentation\n        1         General DCS System                Shenzhen                       2      6,998                           6,998\n        2         Boiler\/Turbine Protection System  Jiaozuo                        1      1,370                           1,370\n        3         Secondary Air Gate\/Swing Cylinder Suian City                    10        145                             145\n                    Central Panel, FDK-1\n        4         Thermal Set Control System        Shenzhen Electric Power        2      1,979\n        5         Monitor System                    Shenzhen Wanyue                1        227                             227\n                                                                                         ------------- ------------ --------------\n                                                                                         10,719                           8,740\n    8. Water System\n        1         Recirculation Pump, 1200HLCB3-19, Shanghai (KSB)                 4      1,941        1,081                860\n                       YL800KW10P6kv\n        2         Booster, 500S-22B                 Shanghai (KSB)                 2        106           32                 74\n        3         Crane, 16\/3.2t                    Xin Xian                       1        240            -                240\n\n                                                                                        -------------- ------------ --------------\n                                                                                          2,287        1,113              1,174\n                                       \n                                                                                        171,043       61,471            106,682\n<\/font>\n                                       5\n\n\n\n\n\n                                                    Construction Contract\n\n\nSCHEDULE B\n\nList of Liabilities Assumed by Assignee\n\nConstruction Contract\n\n\n<font size=\"2\">\n                                                                                                                 Amount\n                                                                 Total       Prepaid           Civil              O\/S\nRef#     Project                        Contractor              Amount     Construction     Construction      March 31, 96\n- ----     -------                        ----------             -------     ------------     ------------      ------------\n                                                                                            \n                                                              (RMB'000)     (RMB'000)        (RMB'000)         (RMB'000)\n 1       Thermal System                 Henan Construction      28,440                                           28,440\n         Fuel System                    Henan Construction      12,040                                           12,040\n         Water Supply System            Henan Construction      18,540                                           18,540\n         Turbine System                 Henan Construction       2,710                                            2,710\n         Water Treatment System         Henan Construction       1,850                                            1,850\n         Generation Support System      Henan Construction       2,130                                            2,130\n         Supplementary System           Henan Construction       6,970                                            6,970\n         Other                          Henan Construction       4,370                                            4,370\n                                                               -------- ----------------   --------------    --------------\n\n\n                                                                77,050          12,940          14,820           49,290\n\n 2       Staff Dormitory                Zhongyeun Construct      2,000           1,680             460                -\n\n 3       Dormitory Water &amp; Electricity  Xinguang Installation      800             540                              260\n         Supply\n         Conference Room                Xinguang Installation       70                                               70\n                                                               --------- ----------------  --------------    --------------\n\n                                                                   870             540               -              330\n\n 4       No.I 110kv Cable Modification  Jiaozuo Electric           570                                              570\n         No.II 110kv Cable Modification Jiaozuo Electric           560                                              560\n                                                               ---------- ---------------- --------------    --------------\n\n                                                                 1,130              --           1,110               20\n\n 5       Road Work Outside the Plant    Jiaozuo City Construct   1,600                                            1,600\n         Tower Construction             Jiaozuo City Construct     300                                              300\n                                                               ---------- ---------------- --------------    --------------\n                                                                 1,900           3,310             290                -\n\n 6       Cooling Tower Civil Work       Hungda                   1,620              --              --            1,620\n\n 7       Canteen Outside the Plant      Linzhou                  1,120             500             250              370\n\n 8       Cooling Tower Fine Stone       Xinxian                  1,300                                            1,300\n                                                                   350                                              350\n                                                               ----------- --------------- --------------    --------------\n\n                                                                 1,650           2,100             390                -\n\n 9       Pole                           Zheng Iron               6,000           2,740             800            2,460\n\n10       Water Well                     Jiaozuo Mineral Water    3,770             190           3,440              140\n\n11       Warehouse                      Wushi                      800             690             360                -\n\n12       Underground Water Pipe         City Water                               1,980                                -\n\n13       Installation                   Provincial Thermal     150,000           6,840           3,110          140,050\n\n14       Main Plant Construction        Xian                     6,190               -           6,190                -\n\n15       Plant Wall                     Chang                      320                             320                -\n                                                               --------- ----------------  --------------    --------------\n\n                                               TOTAL           254,420          33,510          31,540          194,280\n\n<\/font>\n\n                                       6\n\n\n\n\n\n\n                                   Schedule C\n\n                         List of Approvals Not Obtained\n\n         Assignor  acknowledges  that as of the date hereof, it has not received\nthe following approvals:\n\n         1.       Construction Engineering Permit\n\n         2.       Construction Start Permit\n\n\n\n\n\n\n\n\n\n\n\n\n                                      D-1\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6585],"corporate_contracts_industries":[9534],"corporate_contracts_types":[9622,9624],"class_list":["post-43329","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-aes-china-generating-co-ltd","corporate_contracts_industries-utilities__electric","corporate_contracts_types-planning","corporate_contracts_types-planning__contrib"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/43329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=43329"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=43329"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=43329"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=43329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}