China Taiyuan Coal Exchange, the first of this kind in the country, will be put into operation in November of this year at the soonest, the Shanghai Securities News reported today.
The coal exchange, with a total investment of one billion yuan (US$133.33 million), includes the construction of the exchange center and a coal base in Qidong city, East China's Jiangsu Province.The exchange is expected to facilitate the trading of around 500 million tons of coal annually in its initial stage, a researcher with the Shanxi Academy of Social Science said.
Thirty enterprises have invested in the exchange, including Shanxi Coal Transportation and Sales Group Co Ltd, the biggest shareholder, who will control 10 percent.
Other major shareholders in the exchange are China's leading electric power groups, including China Huaneng Group, China Datang Corporation and China Guodian Corporation. Each of the three giants holds four percent of the exchange.
China Power Investment Corporation and China Huadian Corporation each have three percent stake in the exchange....MORE