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Shenhua Group Corp Coal miner starts Mongol railway
January 21, 2009, Wednesday
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SHENHUA Group Corp, China's biggest coal company, has started building a 4.7-billion-yuan (US$687 million) railway to transport coal and copper from Mongolia.
The 354-kilometer rail link starts at Shenhua Group's Wanshuiquan station in Baotou City in the Inner Mongolia Autonomous Region, China's State-owned Assets Supervision and Administration Commission said in a statement on its Website yesterday. Listed unit China Shenhua Energy Co will own a majority stake in the railway, which will end at the border town of Ganqimaodu, it said.
The railway will be able to transport 60 million tons of coal and copper from Mongolia each year when completed by 2011, China Central Television reported on January 9.
The railway forms part of plans the two countries have to develop the Tavan Tolgoi mine in Mongolia, the commission said without giving details.
Shenhua Energy in April said it intended to buy overseas assets, including mines in Australia, Indonesia or Mongolia.
The 354-kilometer rail link starts at Shenhua Group's Wanshuiquan station in Baotou City in the Inner Mongolia Autonomous Region, China's State-owned Assets Supervision and Administration Commission said in a statement on its Website yesterday. Listed unit China Shenhua Energy Co will own a majority stake in the railway, which will end at the border town of Ganqimaodu, it said.
The railway will be able to transport 60 million tons of coal and copper from Mongolia each year when completed by 2011, China Central Television reported on January 9.
The railway forms part of plans the two countries have to develop the Tavan Tolgoi mine in Mongolia, the commission said without giving details.
Shenhua Energy in April said it intended to buy overseas assets, including mines in Australia, Indonesia or Mongolia.
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