China Shenhua to double coal capacity by 2014 - Report
Saturday, 04 Jul 2009
China Securities Journal quoting unnamed company sources said China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level.
The paper said the goal for 2014, set at 400 million tonnes will account for 15%of China's total coal production capacity. It said that Shenhua will need CNY 100 billion to fund the expansion plan over the next five years. The company has sufficient cash flow to fund the project.
The company's annual report said it produced 186 million tonnes of coal in 2008 up by 18% from a year earlier.
