China Shenhua Energy's coal output up 22.3% in Jan
Wednesday, 22 February 2012 | 16:30
China Shenhua Energy Co Ltd<601088><1088>, the country's largest coal producer, saw its commercial coal output for January reached 26.3 million tons, reflecting a year-on-year increase of 22.3%.
Last month, the Shanghai and Hong Kong-listed firm's coal sales, however, declined 15.4% from a year earlier to 23.6 million tons. Electricity output increased by 2.3% year on year to 14,060 GWh in January, while electricity sales grew by 1.7% from a year earlier to 13,060 GWh.
The state-owned coal supplier produced 281 million tons of commercial coal in 2011, 25.4% more than in 2010. Coal sales surged 32.4% year on year to 387 million tons. Net addition of the firm's coal output is expected to reach around 20 million tons per year in 2012 an 2013, projected by China Galaxy Securities Co.
Last year, China Shenhua Energy's electricity output and sales amounted to 179,900 GWh and 167,600 GWh, respectively, both reflecting an increase of 27.5% from a year earlier.
In addition, the Chinese coal giant has invested RMB 1.65 billion in Bashu Electric Power Development Corp and RMB 1.62 billion in State-owned Anhui Province Energy Group Co Ltd for market expansion.
Source: China Knowledge