China Shenhua Energy to start RMB 1.736 bln railway project

Published: 09 Mar 2009 18:30:20 PST

Mar. 9, 2009 (China Knowledge) - China Shenhua Energy Company Ltd (CSEC)<601088><1088>, which is engaged in the coal mining, power generation and transportation businesses, will build a railway worth RMB 1.736 billion in Inner Mongolia Autonomous Region, according to a plan the firm announced on Mar. 5.

The plan, approved by China's National Development and Reform Commission recently, is to build an estimated 128.8 kilometers of railway line as a part of a larger, RMB 4.96 billion project.

The energy company has earmarked funds for 90% of the cost of the railway, while the remaining funds will be injected by the state-owned assets investment company in Ordos City, Inner Mongolia.

Last year, China Shenhua Energy hit RMB 26.588 billion in net profit, a year-on-year increase of 29.7%.

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