China Resources Power to be throwing 7.0 billion acquisition of coal mines in Shanxi - China Resources Power, Shanxi Coal Mine - Electric industry
Click to see more exciting information China Resources Power Holdings Co., Ltd. 2009 annual results released yesterday, the annual net profit rose two-fold to 5.317 billion Hong Kong dollars. China Resources Power also said to use 7 billion yuan this year, the acquisition of Shanxi Coal Mine, bullish on coal linkage effects.
Red-chip China Resources Power is a subsidiary of state-owned China Resources Group, mainly engaged in investment in construction and operation of power management. China Resources Power in Beijing, Hebei, Henan, Liaoning, Shandong, Jiangsu, Zhejiang, Anhui, Hubei, Hunan, Guangdong and Yunnan cities and provinces are investing in the development, ownership and operation of large coal-fired power plants.
China Resources Power Executive Director, Chief Financial Officer Xiao-Bin Wang at a press briefing yesterday, fiscal year 2009, China Resources Power actively involved in integration of coal mining in Shanxi Province, Shanxi Province has set up a subsidiary company acquired a number of areas in Shanxi Province is Luliang with operating mines. Xiao-Bin Wang noted that China Resources Power will continue to identify additional assets and resources to buy coal mines to increase coal resources under the control of and ensure that the company long-term, low-cost fuel supplies.
"We are now negotiating the acquisition and integration of the total reserves of about 600 million tons of coal in the coal assets, and we intend to re-locked in Taiyuan area Luliang and 2 billion tons of coal resources." Xiao-Bin Wang said, China Resources Power Plan, 2010 Shanxi, Jiangsu, Henan and Hunan's coal production will total 16 million tons of coal.
China Resources Power, President and CEO, said Wang Shuai Ting, the 16 million tons, accounting for China Resources Power 26.7% of total demand of coal, coal mines last year, China Resources Power held a total of 4.1 million tons coal, 8.2% of total demand. He said the next two to three years, with the further acquisition of coal mines, self-produced coal to meet the rate would gradually increase, expected to reach 35% by 2011.
According to Xiao-Bin Wang introduced China Resources Power will be 7 billion yuan this year to the budget for the acquisition of coal mines in Shanxi and other arrangements for 1.4 billion yuan on technological transformation has been the acquisition of coal mines. In addition, China Resources Power will invest 14.2 billion yuan in the power segment, including wind power project 6 billion yuan and 1.5 billion hydroelectric project.
It is understood that China Resources Power has included Shenhua coal suppliers, including major established a 5-year coal purchase agreements, and locked the Jiucheng required for coal this year. Another 10% will be in the open market purchases. Wang Shuai Ting judge, coal prices will rise this year to forecast the total price of coal increased by 10%. Hong Kong stocks fell yesterday by the broader market
drag, China Resources Power yesterday to close at 16.92 Hong Kong dollars, down 0.24%.
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Human Resources MBA- A Blooming Career Opportunity
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Panax japonicus, both North and South drug Panax ginseng drug dual effect is unique to rare medicinal plants in Hubei.
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