Shandong Energy Group fails to open as planned

Shandong province didn’t officially establish the Shandong Energy Group in the end of 2010 due to undetermined factors.

Official sources and industry insiders earlier had expected the energy giant to be founded before the end of 2010, according to the China Economic Herald.

The new coal group, to be formed by six provincial-owned companies including Zibo Coal Mining, Linyi Mining, etc., is reported to have more than 100 million tonnes of production capacity, with registered capital of US$1.5 billion, earlier report said.