China Tobacco Corporation Invests Heavily in Coal Chemical Industry

Source from:  ce.cn 05/19/2008

China National Tobacco Corporation has invested heavily in projects in the coal chemical industry in business diversification over recent years, with the single-year investment in this industry in 2008 alone expected to reach 5 billion yuan (715 million U.S. dollars). It was reported that China National Tobacco Corporation is planning to make investment in the construction of a large-size coal chemical industry base in Erdos in north China's Inner Mongolia Autonomous Region. China National Tobacco Corporation has already incorporated a mining company named Shanghai Temple Mining Co., Ltd., with a registered capital of 600 million yuan (86 million U.S. dollars). The business scope of Shanghai Temple Mining Co., Ltd. mainly includes coalmining, but also covers electric power generation and thermal power production. According to its development planning, Shanghai Temple Mining Co., Ltd. will over the next five years produce over 20 million tons of coal, and build a 2×30MW thermal power plant. Enditem