China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal has reported, quoting unnamed company sources.
The company produced 186 mt of coal in 2008, up 18% from a year earlier.
According to the press report, the production target for 2014, set at 400 mt, will account for 15% of China's total coal production capacity. The company will need Yuan 100B ($14.6B) to fund the expansion plan over the next five years, the paper said.
Its parent, Shenhua Group Corp, China's largest coal producer, also plans to double its production capacity from 80 mt currently, excluding the listed arm's capacity, the paper said.
