Shenhua to focus on CTL project in Erdos

Shenhua Group, China’s biggest coal producer by volume, hopes to double its annual revenue in five years by increasing output and making acquisitions, President Zhang Xiwu said in a statement. Shenhua Group’s 2008 revenue totaled 140.6 billion yuan (US$20.5 billion), Zhang said, without giving the year-earlier figure. He didn’t disclose the company’s 2009 production plan, or name possible acquisition targets. The coal-to-liquids project in Erdos, in northern China’s Inner Mongolia Autonomous Region, will be one of the company’s main projects for 2009, he said. (January 7, 2009)