Chinese ramping up thermal production by 100 mil tons + ass rail infrastructure over next few years - who can match this kind of expansion ?
China Huaneng Group (CHNG), the country's biggest electricity producer, is planning to buy stakes in coal mines of North China to secure its fuel supplies. The Beijing-based electricity producer plans to secure 30 million tons of coal from its stakes in coal mines next year, and further increase that figure to 80 million tons by 2010, China Daily reported on Friday.
The company last year used about 100 million tons of coal to fire its 75 power plants across 23 provinces and regions in China.
A small proportion of that came from coal mines in which Huaneng has a stake.
"We will greatly increase investment into sectors like coal production, and port and rail construction to secure coal supplies," Li Xiaopeng, president of the Huaneng Group told the company's conference in Beijing on Thursday.
Huaneng has planned a slew of joint-venture coal projects in North China's Shanxi and Shaanxi provinces, as well as in the Inner Mongolia Autonomous Region.
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