Coal giant to get 22-billion-yuan loans for power development
( 2003-12-24 16:51) (Xinhua)
The China National Coal Group Corp. (CNCGC), a major state-owned coal company, will get loans amounting to 22 billion yuan (2.65 billion US dollars) from the State Development Bank (SDB) to meet its financial demands in the next four years.
SDB will actively support CNCGC in its bid to build a large coal production base and an international power giant by providing stable long-term capital support and financial services to CNCGC's major projects and technological renovation.
With total assets reaching 36.5 billion yuan (4.39 billion dollars), CNCGC now boasts a coal production capacity of 49 million tons with an installed capacity of 624,000 kilowatts.
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