Shandong to invest RMB 100 bln in coal industry by end of 2015

The Coal Industry Bureau of Shandong Province announced plan to inject more than RMB 100 billion into coal industry by the end of the 12th five-year plan starting from 2010 to 2015, sources reported.
In the period, the province hopes to kick off construction on 16 collieries with a designed annual output capacity totaling 12.6 million tons and to put 18 mines into operation to add capacity of 16.65 million tons.
The total capacity of Shandong is expected to maintain around 150 million tons of coal in the next 20 years.
However, Wang Liting, deputy director of the coal industry bureau, said that the province has 935 coal developers, an amount 18.7% more than the planned figure in the province, adding that Shandong will wash out backward capacity in the future to optimize the coal industrial structure.

Source: China Knowledge