Central SOEs to invest over 700b yuan in Xinjiang

Updated: 2012-03-15 13:24

(Xinhua)

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BEIJING - China's centrally administered state-owned enterprises (SOEs) plan to invest 724.32 billion yuan ($114.97 billion) in Xinjiang Uygur autonomous region in 2012, China Securities Journal reported Thursday.

Last year, central SOEs invested 70.15 billion yuan in 196 projects related to electricity, coal mining, mineral exploration and the coal chemical industry in Xinjiang, the newspaper quoted organizers of the 9th China Xinjiang International Coal Industry Exhibition as saying.

In recent years, the country's energy companies have accelerated their investments in Xinjiang, China's largest natural gas-producing region.

PetroChina and Sinopec, the nation's two largest oil producers, plan to build seven pipelines to transport gas from the northwest region to economically developed but energy-starved coastal areas, according to the newspaper.

The country's five electricity generation companies and 20 leading coal enterprises have already established branches in Xinjiang.

The 9th China Xinjiang International Coal Industry Exhibition will be hosted in Urumqi, capital city of Xinjiang, from June 6 to 8, according to the newspaper.