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China Coal Group says to invest $15b in Xinjiang
(Agencies)
Updated: 2009-03-31 11:52 China National Coal Group Corp said it plans to invest more than 100 billion yuan ($14.62 billion) in China's far northwestern Xinjiang Uygur Autonomous Region over the next five years.
China Coal Energy Co, the listed arm of China's No 2 coal miner, has said it was suspending a 17 billion yuan project in Heilongjiang, which would have produced 10 million tonnes of coal a year. The remote Xinjiang region holds about 40 percent of China's coal reserves, or about 2.2 trillion tons. It produced 60 million tons of raw coal in 2008, according to official data from the region's statistics bureau, and has attracted investment from large coal groups including China's top coal miner Shenhua. (For more biz stories, please visit Industries)
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