2017-12-06 | Editor : et_editor 624 pageviews

China Energy Investment Group Comes Into Being

China Guodian Group and Shenhua Group have merged into "China Energy Investment Group," which was incorporated on Nov. 28, with assets exceeding 1.8 trillion yuan, posing as the world's largest company for coal production, thermal power, renewable-energy power, coal oil, and coal chemical.

The new entity is a business behemoth, with over 1.8 trillion yuan of assets and a workforce of 330,000, overseeing eight research bodies and six enterprises, with its business scope spanning eight major fields, energy and power, new energy, transportation, coal chemical, industrial technology, energy conservation and environmental protection, and industry/finance.

Qiao Baoping, chairman of the new company, remarks that the setup of the company results from a major policy of the State Council, with the multiple goals of structural reporm of supply, state enterprise reform, part of the "four energy revolutions," and national energy safety. The company will step up pushing all-round integration of assets, business, organizations, personnel, management, and culture, in order to materialize restructuring dividend and the synergy of merger.

China Energy Investment Group will be the world's largest company in four sectors: coal production, thermal power, renewable-energy power, and coal oil/coal chemical. As the world's largest coal producer, it owns 83 coal mines (including 16 open-pit ones), with 429 million tons of certified annual output capacity, on top of 200 tons of annual capacity for clean coal. It boasts 167 million kilowatts of thermal power installation capacity, with power plants spread in 31 municipalities in China, Australia, South Africa, and Indonesia.

For renewable-energy power, its wind-power installation capacity tops 33 million kilowatts, generating 57 billion kilowatts/hour of power a year. It also has 28 coal-chemical projects in operation, plus 5.26 million tons of coal-oil capacity, either in operation or under construction, and 2.88 million tons of olefin capacity, for which it possesses multiple key process technologies with own IP right. In addition, it has a huge transportation capacity of its own, including 2,155 kilometers of railway, harbors with 300 million tons of annual shipment capacity, and a 80-ship fleet.

(Photo courtesy of public domain CCO).

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