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Chinese power companies to boost coal reserves

Steel News - Published on Wed, 26 Jan 2011

It is reported that four power generation companies plan to boost their self sufficiencies in coal supply over the next five years.

China Power Investment Corporation expanded its coal capacity to 72.75 million tonnes in 2010. It produced 54.10 million tonnes of coal with 30% of the coal coming from its own sources.

China Power Investment Corporation plans to boost its coal production volume to 60 million tons in 2011 and 100 million tons by 2015 with coal self sufficiency ratio of 40%. In addition, the company is about to obtain controlling stakes in railways, ports and modern logistic companies and has signed long-term agreements with Australia to purchase and sell high quality steam coal.

China Power Investment Corporation generated sales revenue of CNY 126.8 billion and total profit of CNY 5.02 billion in 2010 on rising coal prices. Net profit in 2010 hit CNY 3.39 billion. The company plans to record sales revenue of CNY 154.7 billion in 2011 and CNY 200 billion by 2015.

China Guodian Corporation plans to have capacity of 100 million tons of coal by 2015 and post profit growth rates of 100 percent for its coal, environment protection technology, finance and electricity related businesses.

China Datang Corporation is about to boost the proportion of power produced by coal through mergers, acquisitions and integrations. It will focus on East Mongolia, West Mongolia, the northern part of Shanxi, Shanxi and Xinjiang while it extends operations to Henan, Nadong, Sichuan province, Ningdong and overseas coal rich areas.

It will continue to increase coal reserves, boost capacity of high-quality steam coal to improve its coal self-sufficiency ratio.

China Huaneng Group seeks to have coal capacity of more than 100 million tons per year with a self-sufficiency ratio of more than 25 percent for power coal during the 12th Five-Year Plan period.

(Sourced from China Business News)

Posted By : admin on Wed, 26 Jan 2011
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