Datang Power H1 Profit Inches Up 2.17%

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Monday, 29 August 2011 04:16

Written by Patrick Chang

Theindonesiatoday.com - Datang International Power Generation Co Ltd, one of the largest independent power producers in China, posted net profit of RMB932 million in the first half of 2011, inched up 2.17% from the corresponding period of 2010.

Datang Power reported operating revenues of RMB33.32 billion in the first six months of 2011, an increase of 15% over the first half of 2010.

During the period, total power generation of the group amounted to 96.16 billion kWh, representing an increase of approximately 19% as compared to the corresponding period last year. "Significant increases were mainly attributable to a continued sound macro-economy of the country, an increase in power consumption of the whole society, and an increase in the capacity of the group's operational generating units," Datang said in a filing to the Hong Kong Stock Exchange Sunday.

In order to secure coal supply for its power plants, Datang Power develops the Shengli open-cut coal mine in Inner Mongolia with a planned construction scale of 60 million tons. Phase 1 with 10 million tons per annum capacity has commenced operation, while Phase 2 with an annual capacity of 20 million tons was approved by Chinese government in March 2011.

Its coal products will be primarily supplied as raw materials to the coal chemical and coal-based natural gas projects such as the Doulun Coal Chemical Project, the Keqi coal-based natural gas project, and the Fuxin coal-based natural gas project. (Theindonesiatoday.com)

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