Hebei-based Kailuan Group announced to start construction of a coal reserve base on the northeastern coast to store 50 million tonnes of the fossil fuel, a company executive said on Aug 31.

The base planned by Kailuan Group would be located in the Caofeidian area of Hebei province and would cost an estimated 2.71 billion yuan, with a storage capacity of 4.16 million tonnes, without providing a timeframe for the project.

China has plans to set up four to six coal reserve bases, each with a storage capacity of more than 20 million tonnes, in eastern Shandong province to help cope with future supply shocks.

The state-run coal mining group is the parent of Kailuan Clean Coal Co. The company boasts good coal quality and complete industrial chain including cokemaking plant, power plant and port facilities.
 

Source: en.sxcoal.com