China Coal To Get Even Richer

In just one year, China Coal Energy Co. doubled its profits, the WSJ reports. Its goal is to increase its annual coal output by 5 million tons each year until 2010. Right now, they're at 43.39 million tons.

It needs billions to do it. So it's going public. Selling its shares in Shangai. And it expects to make 26.6 billion yuan. Proceeds will be used to invest in five coal chemical projects in the mainland, and other projects, like a coal mine in Mongolia.

Be interesting to see who exactly puts their dollars into China's dirty coal industry. Foreign investors no doubt. Perhaps with some big American energy firms and institutions toppin' the list?

 

 

 


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