Shenhua’s coal output up 20%

China Daily reports that Shenhua Group Corp, China’s biggest coal company, saw increased sales of 20% last year. Its sales were valued at more than 100 billion yuan ($14 billion) in 2007, compared with 83 billion yuan a year earlier, the Beijing-based company said in a statement on its Web site. Shenhua Group is the parent of the Shanghai and Hong Kong-listed China Shenhua Energy Co (CSEC)

Chinese coal companies are increasing output to meet rising demand from domestic power producers, which burn the fuel to generate about 78% of the counntry’s total electricity. China became a net coal importer for the first time in January last year. Also, CSEC is building the country’s first coal-to-liquid plant, which comes on stream this year.

Shenhua Group increased production 16% to 235 Mt in 2007, compared with the 203 Mt it produced in 2006.