Huaneng signs coal contract
27 September 2004
State-controlled and Hong Kong-listed Huaneng International Power Inc said it signed a long-term coal supply contract with Shanxi Coking Coal Group, its third such deal since July. Shanxi reportedly agreed to supply between 4.2 million and 6 million tonnes of thermal coal annually on a five-year schedule from 2005. While the agreed benchmark price was not disclosed, the parties agreed on a formula that maintains prices within 8% of it. Huaneng recently signed long-term contracts with Shenhua Group Co. Ltd. and China National Coal Group Corp.
