Recently, Zhejiang Energy Group, in partnership with Qinfa Group, has marked the commencement of its inaugural overseas resource investment project with the official handover ceremony of the SDE coal mine in Indonesia.
From CNENERGYNEWS
Recently, Zhejiang Energy Group, in partnership with Qinfa Group, has marked the commencement of its inaugural overseas resource investment project with the official handover ceremony of the SDE coal mine in Indonesia. This event highlights Zhejiang Energy's dedication to expanding its presence in the global energy market, representing a significant stride in its development within international energy markets. The initiative is poised to enhance the group's resource management and coal supply capabilities, contributing to a more diversified energy supply that will aid in stabilizing energy prices and ensuring supply in Zhejiang Province.
Zhejiang, recognized as a major economic province with limited energy resources, has long faced challenges in fuel procurement and supply for its power generation enterprises. As the key force in ensuring energy security in Zhejiang, Zhejiang Energy Group has been proactive in pursuing international collaborations to optimize resource allocation and achieve breakthroughs on a broader scale. The cooperation with Qinfa Group on the SDE coal mine project in Indonesia exemplifies this strategy. After nearly two years of negotiations and thorough scrutiny by various government departments, the project has successfully reached the handover stage.
The successful partnership is a profound reflection of Zhejiang Energy Group's commitment to implementing the "Number One Open Project" as mandated by Zhejiang Province, advancing international cooperation within the framework of the Belt and Road Initiative. It is also a notable outcome of Zhejiang Energy International's efforts to promote high-quality overseas business development. The project holds significant importance for the group's coal-electricity industry chain consolidation and the expansion of its overseas resource base. Zhejiang Energy Group and Qinfa Group are committed to enhancing their collaboration, aiming to make the SDE coal mine project a benchmark for Chinese overseas projects and a model of cooperation between state-owned and private enterprises.
The SDE coal mine project, located in South Kalimantan, Indonesia, is the country's largest-scale underground mine, covering an area of 185 square kilometers with an annual production capacity of up to 20 million tons. The first mine is already operational, with the second mine scheduled to begin production next year. The project's vast potential is expected to effectively meet the increasing energy demands of Zhejiang Province, ensuring a stable power supply while reducing reliance on imported energy resources.