On August 29, Hebei Province-based major Chinese coal producer Kailuan Group stated that it plans to issue short-term bonds to raise funds worth RMB 900 million ($14.2 million).
Meanwhile, Kailuan Group has also announced its targets for the three years up to 2015. Accordingly, by 2015 the group expects to achieve an annual coal output of 150 million mt and overall annual revenues exceeding RMB 200 billion ($31.5 billion).
By 2015, the sales revenue and net profit of the company from its coal business is expected to reach RMB 50 billion ($7.89 billion) and RMB 2 billion ($315 million) respectively.
As regards its iron and steel business, by 2015 Kailuan Group is aiming to achieve annual production capacities of 18.18 million mt of pig iron, 19.7 million mt of crude steel and 18.63 million mt of finished steel, with an anticipated annual net profit of RMB 2 billion ($315 million).