Shanxi Province-based Chinese company Jinneng Group Co., Ltd (Jinneng Group) has announced that it has inked medium-term and long-term coal supply contracts with Shandong Province-based Xinfa Group, Shandong Province-based Shandong Weiqiao Aluminum Co., Ltd and Shandong Province-based Luxi Chemical Group at the Coal Trade Fair for 2017 held in Qinhuangdao.
Accordingly, Jinneng Group will supply an overall of 21.40 million mt of coal for the three companies in question per year. Meanwhile, Jinneng Group previously inked coal supply contracts with China Huaneng Group and China Resources Holdings Co., Ltd to supply a total of 16 million mt of coal for them per year.
Wang Qirui, chairman at Jinneng Group stated that the aggregate coal supply contract volume for 2017 would likely total 70 million mt with the further signing of medium-term and long-term coal supply contracts, increasing by 200 percent year on year.