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L&L Energy sets up new operation in China
1 June 2011: L&L Energy, Inc, has announced the formation of Yunnan L&L Tai Fung Coal Co. Ltd. ("Tai Fung") in the Yunnan province of China.
L&L owns 98 per cent of the Tai Fung joint venture, which includes a newly established coal wholesale operation and its existing Hong Xing coal washing facility. The JV will generate an approximately $81 million (approx Rs 364.5 crore) in revenue per year to L&L. The new wholesale operation is to move 1,00,000 tonne of coal annually adding an estimated $17 million (approx Rs 76.5 crore) in revenues, and the Hong Xing washing facility has an estimated $66 million(approx Rs 297 crore) in revenue and is being expanded to 6,00,000 tpa.
Source: PRNewswire