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在线翻译:
szdaily -> Markets
Shenhua to keep supplies to long-term clients
    2017-October-23  08:53    Shenzhen Daily

SHENHUA Group Corp., China’s biggest coal producer, will maintain supplies to existing long-term clients after its merger with State power company China Guodian Group Corp., a senior executive said Friday.

The comment from general manager Ling Wen will ease concerns that the State-orchestrated merger could restrict thermal coal to other utilities, potentially prolonging a year-long rally in prices that has hurt power companies’ profits.

The deal, matching the coal miner with one of the country’s biggest utilities, was announced in late August and will create a global powerhouse worth US$280 billion.

The company will also guarantee coal supplies to Guodian, Ling said, to which Shenhua currently sells 25 million tons of coal a year.

He played down the chances of a repeat of last year’s market chaos, when the government had to intervene to avoid a winter fuel crisis after government-enforced coal mining cuts squeezed supplies of the nation’s favorite fuel.

“This year, the market has improved. I don’t think the government will use aggressive measures,” Ling said.

Touting the company’s clean credentials, he said 70 percent of its thermal coal-fired power plants have ultra-low emissions.

Ling also said that Shenhua plans to build a fourth-generation “travelling wave” nuclear reactor (TWR) in Cangzhou, northern China’s Hebei Province, by 2030 as part of its tie-up with the China National Nuclear Corp. announced late last month.

TWR technology uses depleted uranium and is more fuel-efficient and cheaper to run than conventional reactors.

(SD-Agencies)

 

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