1. Main
  2. Learn
  3. Economy
  4. Markets

China’s Shenhua planning to invest $8 billion into coal production in Kazakhstan

China’s Shenhua, the largest coal-producing company in the world, plans to invest $8 billion into coal production in Kazakhstan, Trend Agency reports, citing Kairat Karmanov, Vice Chairman of the Kaznex Invest [Agency for Promotion of Kazakh Exports and Investments].
“The Chinese Company has had a series of talks with the local governors of Karaganda oblast to develop a coal deposit. The production unit plans to produce 6 million tons of coal a year”, Mr. Karmanov said. According to him, in the first year investments will make up $2 billion to be further brought up to $8 billion. “The sides are working to sign respective documents before the end of the year so that the actual construction could start next year”, Mr. Karmanov said. Coal production in Kazakhstan in 2012 totaled 120.511 million tons (3.5% up). According to rbc.ru, imports of power-generating coal to China are set to grow by 17%, reaching 281 million tons, within the following 5 years.
Nobel prizewinner proposes a new city in KZ
New abnormal snowfalls expected in Kazakhstan
Huge glacier retreat triggered in 1940s
Hyperloop construction begins in Las Vegas
"Moonlight" to top Spirit Awards nominations
Oil prices fall due to investors uncertainty
New dwarf galaxy discovered around Milky Way
Kanat Islam becomes a top ten WBO boxer
World oil prices continue to rise
Kazakhstan expects warming - Kazhydromet
Merkel to seek fourth term as chancellor
Sale of Tintin drawings set to break records
US, EU stocks fall as markets focus on dollar
Pacific leaders urged to defend free trade
EU warns eight nations on budget deficit
Universiade-2017: Athletic Village is ready
Bob Dylan can't make Nobel ceremony
Messi will never leave Barca - club president
Google, Facebook take aim at 'fake' news
Aerosmith announces Europe 'farewell' tour
Putin, Trump to normalise US-Russia ties
At least 10 hurt in southern Turkey blast
6.2 quake hits western Japan
OPEC agrees shock oil output cut
Israeli ex-president and Nobel laureate Peres dies
Germany blocks WhatsApp data transfers to Facebook
32,000 arrested in Turkey coup probe
Youth to the fore as Milan fashion week opens
Xenophobia threatening peace in eastern Germany
Four-in-10 Japanese are virgins: poll
Sweden re-militarises Baltic island of Gotland
China to launch second space laboratory: Xinhua
More than a billion stars mapped in Milky Way: ESA
Boxing: Golovkin eyes Saunders after stopping Brook
Kazakhstan shifts PM to security chief
Oil prices gain despite rising OPEC supply forecast
US to give Philippines military planes
Singapore wages war on Zika-bearing mosquitoes
Italy quake death toll nears 250
Viral photos add fuel to French burkini debate
18 dead as Italy struck by powerful quake
Japan's first lady visits Pearl Harbor
Pokemon's a no-go on Bangkok's roads
July was Earth's hottest month in modern times
Pakistan rock climbers scale new heights