Home > Community > China Biz > China Coal to invest RMB 132.8 bln in Shaanxi in next 8 years

China Coal to invest RMB 132.8 bln in Shaanxi in next 8 years

Published: 16 Jun 2009 18:40:50 PST

Top 5 News From ChinaKnowledge.com

Jun. 17, 2009 (China Knowledge) - China National Coal Group Corp (China Coal), the nation's second largest state-owned coal mining company and parent of China Coal Energy Co Ltd<601898><1898>, has signed a framework agreement to strengthen its cooperation with North China's Shaanxi Province in the energy sector, the Shanghai Securities News reported on Tuesday.

Pursuant to the agreement, China Coal will invest a total of RMB 132.8 billion in the province in the next eight years.

The Beijing-based company plans to invest RMB 10 billion in 2009 and a total of RMB 80 billion in the next three years.

The company says it will employ advanced, sustainable, safe, environmentally-friendly construction technology and management techniques as it expands.

Last month, China Coal inked a cooperation agreement with Shaanxi Yanchang Petroleum (Group) Co Ltd and a new energy and chemical firm from Thailand to jointly construct a chemical energy base in Jingbian, Shaanxi Province, according to an earlier report from China Knowledge.

Copyright © 2009 www.chinaknowledge.com