Pingdingshan Coal Mining To Invest 1.1B Yuan In 2 Plants


Pingdingshan Tianan Coal Mining (601666) posted a 0.18 percent year-on-year decline in 2011 net profit to 1.847 billion yuan, while sales revenue rose 9.45 percent to 25.1 billion yuan, reports, citing a company filing.

According to the filing, it will spend 1.1 billion yuan to build two coal preparation plants in Yuzhou and Pingdingshan in Henan province.

The company plans to distribute cash dividends of two yuan (including tax) for every 10 shares held.

Pingdingshan Tianan Coal Mining anticipates 2012 sales revenue of 25.2 billion yuan and incur costs of 23.4 billion yuan.

Pingdingshan Tianan Coal Mining will invest 590 million yuan in the new plant in Yuzhou, which is expected to post estimated net profit of 114 million yuan after it is put into operation.

The plant in Pingdingshan will cost 568 million yuan, with expected net profit of 110 million yuan after completion.


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