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Shenhua to invest 36b yuan in Xinjiang

(Xinhua)
Updated: 2009-07-06 16:56

Related readings:  Shenhua eyes Mongolian mine  Shenhua's coal-to-oil project to start trial operation in July  Shenhua says Q1 coal production up, but sales steady  China Shenhua says 2008 prelim net profit up 30%

China's Shenhua Group is expected to invest 36 billion yuan ($5.27 billion) over the five years to expand coal production capacity in Xinjiang Uygur autonomous region, a company executive said Saturday.

Shenhua's President Zhang Yuzhuo said the company plans to increase its coal production capacity to more than 60 million tons in Xinjiang by 2014.

Shenhua's coal output capacity in Xinjiang was 16.8 million tons last year, up from 10.47 million tons in 2005.

The money will also be used to facilitate coal conversion projects such as coal-to-oil projects, Zhang said.

Shenhua Group produced 281.25 million tons of coal nationwide in 2008, up 19.3 percent from a year earlier.