Investment Updates News
- Miners, power firms to invest in coal bourse
Date: 18-Sep-2007 Sources: (Shenzhen Daily)
DOMESTIC power companies and the country's top coal miners, such as Shenhua Energy, will invest 1 billion yuan (US$133 million) to set up a national exchange for the hydrocarbon in Shanxi Province, China's top producer of the commodity.
An official from the State-owned Shanxi Coal Transportation & Sales Group said investors for the first phase of the exchange also included China Coal Energy Co. He gave no further details. In August, the government gave the green light for the establishment of the China Taiyuan Coal Trading Market, a national exchange for coal trade, as it takes steps to free up coal prices after decades of State control.
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