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Plan for 20 coal mining groups
By Fu Chenghao |
November 11, 2010, Thursday
|
Print Edition
Print Edition
CHINA aims to create 10 coal mining groups with annual capacity of 100 million tons each and another 10 with 50 million tons each by 2015 as the government further consolidates the industry.
The targets, released by the National Energy Administration, follow a call by the National Development and Reform Commission last month to "sharply" reduce the number of coal companies, especially small ones from more than 11,200 now.
Only a small number of Chinese coal producers, notably Shenhua Group Corp and China National Coal Group, have an annual capacity above 100 million tons.
China, both the largest coal producer and consumer, is restructuring the highly fragmented industry which has long been plagued with a poor safety record, pollution and inefficiency.
The NDRC last month said it aims to raise the average annual capacity of individual coal firms to 800,000 tons from less than 300,000 tons now.
Analysts have said the restructuring of the industry could spur active mergers and acquisitions and slow the growth in coal output in China.
Annual coal output will be limited to 3.7 billion tons by 2015, the Oriental Morning Post quoted Fang Junshi, head of the energy administration's coal department, as saying at a work conference in Beijing.
The targets, released by the National Energy Administration, follow a call by the National Development and Reform Commission last month to "sharply" reduce the number of coal companies, especially small ones from more than 11,200 now.
Only a small number of Chinese coal producers, notably Shenhua Group Corp and China National Coal Group, have an annual capacity above 100 million tons.
China, both the largest coal producer and consumer, is restructuring the highly fragmented industry which has long been plagued with a poor safety record, pollution and inefficiency.
The NDRC last month said it aims to raise the average annual capacity of individual coal firms to 800,000 tons from less than 300,000 tons now.
Analysts have said the restructuring of the industry could spur active mergers and acquisitions and slow the growth in coal output in China.
Annual coal output will be limited to 3.7 billion tons by 2015, the Oriental Morning Post quoted Fang Junshi, head of the energy administration's coal department, as saying at a work conference in Beijing.
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