Shandong Henan coal resources integration accelerates large enterprises into deep game

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Under the role of the “12th Five-Year” coal planning industry, the integration of coal resources in Henan and Shandong has become very fast. However, industry insiders pointed out that after the “formal” completion of the construction of coal energy giants, the deep integration between enterprises is more energy-intensive, and the resource integration game between large coal enterprises will be more confusing. At present, it is certain that after the integration of provinces such as Shandong and Henan, the integration of the coal industry within the province will continue to advance, and the strong Hengqiang will remain the only rule of this game.

Shandong Henan coal integration speed
The “6+1” coal restructuring model in Shandong Province has surprised many people in the industry. The large-scale operation of Shandong Province, which has not been the most coal resource, has opened another precedent for the integration of coal resources across the country.

According to the plan, Yankuang Group, as a leading enterprise, remained intact. Six provincial coal enterprises including Zaozhuang Mining, Zibo Mining, Xinwen Mining, Longkou Mining, Feicheng Mining and Linyi Mining jointly established “Shandong Energy Group Co., Ltd.”, one The concept of an energy giant has emerged.

It is reported that Shandong Energy Group Co., Ltd. plans to be listed before the end of the year, registered in Jinan City, with a registered capital of 10 billion yuan, will reach 75 million tons before the end of the year, and will reach 150 million tons by the end of 2011.

"According to the "Eleventh Five-Year Plan" of the coal industry, the country will build 6-8 billion tons of coal enterprises and 8-10 coal enterprises of 50 million tons. At present, this goal has not yet been achieved, so Shandong and other provinces are accelerating. Resource integration is very normal.” A coal-based central enterprise official told reporters that the concentration of the coal industry during the “Twelfth Five-Year Plan” period will be further enhanced, and it is necessary to strengthen the integration.

In fact, the reporter also noticed that before the introduction of the integration plan in Shandong Province, Henan Province issued two integrated “military orders”. The first is to speed up the integration work by the end of this year until the end of June; the second is to complete the integration on the “form” at the end of June and ask for “true holding, true investment, true management” before the end of this year. The proportion of the shares of the reorganized main enterprise in the merger and reorganization of small coal mines shall not be less than 51%.

A person in charge of Henan Zhongping Nenghua Group said that in addition to suppressing small coal mine accidents, the integration is directly related to the layout of Henan coal industry in the national coal industry's “Twelfth Five-Year Plan”, which aims to achieve by the end of the year. The three large coal groups produce more than 50 million tons of coal per year.

It is reported that in order to speed up the integration, as of last weekend, the Henan Provincial Department of Finance has allocated sixty-three coal enterprises including Henan Coal Chemical Group and Zhongping Nenghua Group to reconcile the small coal mine subsidy fund of 373 million yuan.

The game between big companies is confusing
At present, the deep reason for the acceleration of coal resource integration in Shandong Province is that the major coal resources provinces tend to have control over their own resources and do not want to become an integration target in the future. However, according to the expectations of the “Twelfth Five-Year Plan” coal industry plan, the deep integration between coal enterprises is inevitable.

Wu Hao, deputy director of the National Energy Administration, said in an interview with the media that Shanxi, Henan, Inner Mongolia, Shaanxi and other provinces and regions have achieved some results. But overall, coal resource development needs further deep integration. In China, the concentration of the coal industry in the energy industry is low, while the oil industry is dominated by four major companies, and the power industry is dominated by five major companies. In the long run, approaching the oil industry and the power system should be the goal of mergers and acquisitions of coal companies.

In fact, whether it is the "6+1" model or the unresolved "troika" pattern in Henan, the complexity of the integration game between large coal companies has been reflected.

It is reported that according to the goal of Henan Province to integrate and build three large-scale coal enterprises with an annual output of 50 million tons, at least one other entity is not clear, and “even if it is clear that the reorganization of large enterprises is not impossible.” A person from the Henan coal industry said.

The person told reporters that after several rounds of integration, Pingmei Group and Shenma Group have been reorganized to form China Pingmei Shenma Energy Chemical Group, and Henan Coal Industry, which is integrated by Yongmei Group, Hemei Group and Coking Coal Group. Chemical Group. At present, how the third coal company integrates is the most eye-catching.

According to analysis, from the perspective of production capacity, Zhengzhou Coal Group, the major shareholder of Zhengzhou Coal and Electricity, and the Yimei Group, which is listed on the website of the company, may be integrated into one. But the problem is, "The annual output of these two coal enterprises is around 20 million tons. Everyone wants to eat each other. It is very difficult to reorganize," said the source.

"Henan Province is only a microcosm. After the small coal mines have been merged and reorganized, it is really hard to say that the future coal resources integration in the country will be ups and downs," the source said.

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