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The China National Coal Group Corp.(CNCGC), a major state-owned coal company, will get loans amounting to 22 billion yuan (US$2.65 billion) 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 (US$4.39 billion), CNCGC now boasts a coal production capacity of 49 million tons with an installed capacity of 624,000 kilowatts.
(Xinhua News Agency December 24, 2003)
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