Shandong Coking Group was officially established

Thread Content

After months of preparation, the \"Shandong Large Coking Project\" has finally come to fruition. This morning (the 18th), the newly established Shandong Coking Enterprise Group will officially launch its operations at the Shandong Building in Jinan. Its annual production capacity will reach 30 million tons, with annual sales revenue amounting to 60 billion yuan; it is expected to become the largest coking enterprise in the world. It is reported that Wang Qingtao, president of the Shandong Coking Industry Association and chairman of Shandong Coking Group Co., Ltd., will serve as the president of Shandong Coking Enterprises Group. The registered capital of Shandong Coking Enterprises Group amounts to 1.09 billion yuan. It was established with Shandong Coking Group Co., Ltd., formerly known as Shandong Tiejiong Energy Group, as its parent company, in partnership with 45 coking enterprises in Shandong that have an annual production capacity of over 600,000 tons and are listed in the relevant catalogues. This group is set to become a \"giant\" in the coking industry both in China and around the world. Currently, 45 enterprises have been formed in a loose manner on the basis of consensus. The members of a corporate group consist of the parent company, its controlled enterprises, as well as other companies that have production, operational, or collaborative ties with the parent company. According to authoritative sources, the establishment of the Shandong Coking Enterprises Group will ensure the stability and safety of the coking industry in Shandong, consolidate industry resources, and work together to address the international financial crisis. It is reported that Shandong Coking Enterprises Group will also establish a supply and marketing company under it; by taking advantage of the enhanced scale resulting from this integration, the group aims to improve its bargaining power in terms of procurement and sales, thereby increasing the profitability of the Shandong coking industry as well as its ability to withstand risks.