NEW YORK ( TheStreet) -- Shares of A-Power Energy Generation Systems (APWR) rose in late trades Thursday after the China-based company said it's secured a contract for a new 4x200 megawatt coal-based power generating plant.
A-Power estimates total investment for the project with Inner Mongolia Huolinhe Coal Trade Group. at roughly $597 million. The contract calls for A-Power to provide engineering, procurement, and construction of the plant, which is expected to be fully operational by the end of 2015.
The stock was last quoted at $5.64, up 9.5%, on volume of almost 45,000, according to Nasdaq.com. Year-to-date, the shares have fallen more than 70% based on Thursday's regular session close at $5.15.
A-Power anticipates engineering work to begin in March 2011, and says the construction period for each of the four 200 megawatt turbine power generators included in the deal to take 18 months.Following the lead of the Thursday's regular session, after-hours action was sparse ahead of the extended Christmas holiday weekend. -- Written by Michael Baron in New York.
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