Guizhou establishes Panjiang Coal and Power Group
2018-07-20 17:42:55 [Print]
Guizhou Panjiang Refined Coal Co., Ltd. (hereinafter referred to as Panjiang Refined Coal) announced on July 19th that Guizhou provincial government approved the scheme on establishing Guizhou Panjiang Coal and Power Group Co., Ltd., adding that the name of Guizhou Panjiang State-Owned Capital Operation Co., Ltd. (hereinafter referred to as Panjiang Capital), the actual controller, will be changed into Guizhou Panjiang Coal Power Group Co., Ltd. (hereinafter referred to as Panjiang Coal and Power). It's temporarily decided that the registered capital of Panjiang Coal and Power will be RMB10 billion. In particular, about RMB420 million will be Panjiang Capital's net asset attributable to parent company and the rest capital will be transferred by State-Owned Asset Supervision and Administration Commission of Guizhou Province. Panjiang Coal and Power Group will develop into a leading whole industrial chain group in Guizhou with coal and power as the main business.
Panjiang Refined Coal also noted some reasons to establish Panjiang Coal and Power Group. Firstly, it aims to optimize the layout of coal industry, adjust product structure, improve the effective coal supply capacity in Guizhou and strengthen the supply capacity of thermal coal; secondly, it will make coal industry more intensive, more environmental-friendly and more intelligent with higher mechanization to stimulate the transformation and upgrading; thirdly, it is helpful to realize the integration of coal and power so as to reduce costs of commercial power in Guizhou.
Panjiang Refined Coal also noted some reasons to establish Panjiang Coal and Power Group. Firstly, it aims to optimize the layout of coal industry, adjust product structure, improve the effective coal supply capacity in Guizhou and strengthen the supply capacity of thermal coal; secondly, it will make coal industry more intensive, more environmental-friendly and more intelligent with higher mechanization to stimulate the transformation and upgrading; thirdly, it is helpful to realize the integration of coal and power so as to reduce costs of commercial power in Guizhou.
