(Yicai Global) Nov. 28 -- National Energy Investment Group Co. (NEI), China's largest energy company formed through the merger between China's state-owned coal giant Shenhua Group Corp. and power giant China Guodian Corp, is officially established in Beijing today. With assets of over CNY1.8 trillion (USD272.6 billion), the new company has set a number of world records in the energy sector.
The State Council approved the reorganization of power giant China Guodian Corp. and coal giant Shenhua Group Corp. on Aug. 28 this year. NEI, the combined company, has 83 coal mines and an approved production capacity of 429 million tons, making it the world's largest coal producer, state-run CCTV reported.
The new group has 167 million kilowatts of thermal power capacity, with power plants in 31 municipalities and provinces across China as well as in Australia, South Africa, Indonesia and other countries, making it the world's largest thermal power producer.
NEI is also the world's biggest renewable energy producer and largest coal-to-oil and coal chemical company. It owns China's first wind power project abroad and boasts a number of technologies with Chinese-owned intellectual property.
The group also owns 2,155 kilometers of railways, and ports with a combined annual throughput of 300 million tons and 80 proprietary vessels, leading its peers.