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Coal's the goal
By Yu Tianyu (China Daily)
Updated: 2008-12-01 10:31 Zhang says Xinjiang is currently focusing on coal chemical processing and coal-electricity joint operations. In recent years, the energy and mineral resource potential of Xinjiang has sparked the interest of related enterprises. As of 2007 more than 20 domestic and foreign companies entered the region to prospect and develop mineral resources, such as China Shenhua, Luneng and Baosteel group, and the investment in the coal industry leapt to 100 billion yuan. State Grid signed agreements with Changji prefecture government this July to invest in coal chemical and coal-electricity projects in Zhundong (Eastern Junggar Basin) coalfield. During the 11th Five Year Program (2006-2010), Shenhua is planning to invest 8.4 billion yuan in coal-power integration, coal chemical and coal-to-liquid projects in Zhundong. In 2007, Shandong Xinwen Mining Group invested 2.5 billion yuan in a coal chemical project in Yili prefecture, which is expected to completed next year. The project will generate an annual production capacity of 10 million tons with annual revenue of over 1.4 billion yuan. And Shandong Luneng Group has initiated a 3 million ton coal and power project in Hami prefecture. Transport Transport, the problem that slows the development of Xinjiang's coal industry, has been increasingly improved. Recently, the Chinese government announced it would spend 120 billion yuan to build a second railway traversing the northwestern Xinjiang Uygur autonomous region, and construction is expected to begin next year. The railway will go through Gansu, Qinghai and Xinjiang. It will facilitate the transport of agricultural products and minerals, mainly coal, out of Xinjiang, by relieving congestion on the existing line. The railway construction from Xinjiang capital Urumqi to Junggar-Eastern began in November 2007. The eastern part of the Junggar Basin holds up to 370 billion tons of coal reserves. It serves as the main coal base of the coal electricity and coal chemical industry in Xinjiang. Gao Juanjun, an official of Xinjiang Uygur autonomous region government in charge of coal-power and coal chemical projects, says there will be more large-scale projects in the near future. (For more biz stories, please visit Industries)
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