SHANGHAI, March 31 China National Coal Group Corp
said it plans to invest more than 100 billion yuan ($14.6
billion) in China's far northwestern Xinjiang region over the
next five years.
China Coal will invest in coal mining, coal-fired power
generation, coal chemical plants and the development of coal-bed
methane. The total annual production value is expected to exceed
30 billion yuan, the company said in a statement on its website
(www.chinacoal.com), without giving further details.
China Coal Energy Co (1898.HK)(601898.SS), the listed arm of
China's No.2 coal miner, has said it was suspending a 17 billion
yuan project in Heilongjiang, which would have produced 10
million tonnes of coal a year. [ID:nPEK240564]
The remote Xinjiang region holds about 40 percent of China's
coal reserves, or about 2.2 trillion tonnes. It produced 60
million tonnes of raw coal in 2008, according to official data
from the region's statistics bureau (www.xjtj.gov.cn), and has
attracted investment from large coal groups including China's top
coal miner Shenhua.
(Reporting by Rujun Shen; Editing by Jonathan Hopfner)