Thai coal exporter seeks greater sales with JV in China
Asia Green Energy (AGE), a bituminous coal (clean coal) exporter, aims to expand its coal market to China via a joint-venture platform with a leading Chinese coal importer.
Managing director Panom Kuansataporn said the company's board had approved its wholly-owned subsidiary AGE Global Trade Co Ltd to form a 50:50 joint venture with China-based Fuzhou Xindian Fuel Co Ltd to expand its coal business in China.
The registered capital of the joint venture is about Bt104 million (20 million yuan) and is expected to be completed in the next quarter.
AGE, which has been exporting coal to China since 2001, expects 50,000 tonnes of monthly coal sales in China, on top of its original target of 25-30 per cent year-on-year rise in coal sales for 2017.
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