China Shenhua to build railway for $2 bln

SHANGHAI Wed Dec 15, 2010 7:47pm EST

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SHANGHAI Dec 16 (Reuters) - China Shenhua Energy Co (1088.HK), the world's most valuable coal producer, said on Thursday it will invest 13.5 billion yuan ($2.03 billion) into the building of a railway.

Shenhua (601088.SS) will finance 35 percent of the investment using its own capital and the rest through bank lending, the firm said in a statement to the Shanghai Stock Exchange.

Once completed, the railway will have annual capacity of 200 million tonnes. The project is expected to be completed by 2012. ($1=6.654 Yuan) (Reporting by Melanie Lee; Editing by Ken Wills)

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