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Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA


China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in the coal mining, power generation and transportation businesses, to purchase a total of 27.5 million tons of coal in the period from 2009 to 2013, sources reported.

According to the contract, the Shenzhen-listed company will purchase 4.5 million tons of coal from China Shenhua Energy each year between 2009 and 2011, and will purchase 6.5 million tons in 2012 and 7.5 million tons in 2013. The annual purchase volume may be adjusted by about 10%.

This year, Shenzhen Energy's purchase of coal from China Shenhua Energy will satisfy 50% of Shenzhen Energy's total coal needs.

Reportedly, in the second quarter of this year, Shenzhen Energy reaped a total of RMB 415 million through shareholding cuts in GD Midea Holding Co Ltd, Bank of Communications and Guangdong Shaoneng Group Co Ltd

Source: China Knowledge



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