40% shares of the red-Nao railway for the transfer of energy

A leaf fall and know the world autumn. With a 40% per cent share of the red-headed railway being ceded to the country for transport, the strategic position of the red-headed railway in the eyes of Guang-hui energy has undoubtedly dropped dramatically, and it also heralds a further shift in the strategic focus of the energy strategy from the coal business to the oil and gas business. The Red-Nao railway 40% shares Kwong Hui Energy Bulletin said the company on September 18, 2013 with the state investment transport companies in Beijing signed the "Cooperation on railway projects" Letter of intent, the state investment in traffic by the red-Nao railway 40% shares, the price is not higher than the paid-in capital of 2.1 times times the corresponding shares. Both sides will respect the requirements of the National railway network Development planning, ensure the integrity and unity of the north-west rail corridor, and jointly invest in the construction of the red-Nao railway, and agree to incorporate the red-Nao railway into the North-wing Railway Corridor project. Data show that the red-Nao railway by the holding subsidiary of Xinjiang Red Nao Three Railway Co., Ltd. Investment and construction, the company has 82.3% stake in Xinjiang Red-Nao Three Railway Co., Ltd., the railway company registered capital of 3 billion yuan, mainly engaged in railway project investment construction; railway facilities technical services; domestic freight forwarding; Railway Special Equipment leasing, installation, railway construction Engineering management Services, warehousing and handling services. As at August 31, 2013, the railway company received a capital of $1,111,424,609. The state investment transportation company is a wholly-owned subsidiary of the National Development Invest Corporation, is the port, railway, road and bridge and other transport infrastructure project companies holding shareholding in the operation of the investment holding company, overall responsibility for the national Development Investment Company's all types of transport business, has formed a port based on the main line of coal transport to Bohai Bay, The Beibu Gulf and the Yangtze River delta are the key port layouts. "Sweet cakes" into "hot potato" It is noteworthy that the red-Nao railway has high expectations. Last August 19, the company issued a notice that the company held a meeting of the Board of Directors passed a bill on investment in the construction of the red-Nao railway project. The total estimate of railway investment is 10.207 billion yuan. Among them, the total estimated amount of the Red Liuhe River to Naomaohu is 7.556 billion yuan, and the total amount of Naomaohu to the mining area is 2.651 billion yuan. After the railway was built, mainly undertakes the Naomaohu, three Pond Lake Mining Area Coal Sinotrans task, will succeed in the near future successfully through Xinjiang Coal and Gansu Hexi Corridor transportation channel, solves the company coal sale bottleneck problem; The long term will vigorously promote the "Xinjiang Coal East Transport" strategy to implement quickly, in order to realize the leap-forward development in Xinjiang to contribute But just a year later, the Red-headed railway by "Sweet Cakes" became the company's "Hot Potato." Liu Dongna, a coal analyst at Zhuo Chong, sees the broad-energy and state-invested traffic in the red-and-Nao railway, behind the persistent downturn in the coal market and the difficulties in the coal sector. Liu Dongna told the China Securities News reporter, since October 2011, the coal market has been mired in a long-term slump, this year, coal prices are a record low. Due to the failure of Gansu Datang Fuel Company, China Power Gansu and other major clients on the reduction of coal prices agreed to cut the number of broad-remit energy coal supply, its XinjiangThe capacity of Sinotrans coal has to be compressed passively. More "to add insult to damage, the coal export provinces of Guang-Hui Energy, because of the intensification of local protectionism, have also restricted the pace of the West coal transport of Guang-Hui energy, resulting in serious coal unsalable." "Liu Dongna said. In this context, "West coal East" is difficult, the red-Nao railway on the strategic significance of the broad remit of energy is undoubtedly greatly reduced, and its shares are part of the transfer is taken for granted. In addition to the declining strategic position of the center of gravity, the red-Nao railway's share of the country's investment may have the need to divert energy from the center of gravity to natural gas. Liu Dongna told reporters that in the coal market in the short term difficult to improve the situation, many coal enterprises will face elimination, "among them, small and medium-sized enterprises, high cost enterprises, business single coal enterprises and other three types of coal enterprises are most likely to be eliminated." "Liu Dongna said. At the same time, the development of natural gas market is in the ascendant, at the same time of rising prices, its development prospects are under the strong impetus of energy conservation and environmental protection policy. In this context, from the second half of this year, a large number of coal enterprises, including small and medium-sized coal Enterprises, the center of gravity to the natural gas transfer, Kwong-Hui Energy is no exception. September 15, the company issued a notice, through the holding subsidiary of the wholly-owned Dutch subsidiary Rifkamp to the 15 million-dollar cash to buy the Dutch Cazol company held a 3% stake in the "TBM" company, so as to achieve a 52% per cent stake in the TBM's holdings. At the same time, Rifkamp will provide a total of not more than 190 million U.S. dollars to the TBM financing, to support the wider energy in the Jaipur oil and gas block to further develop oil and gas exploration. At the same time, the Cazol agreement with the company agreed that after July 2014, if the two sides agreed to continue to invest, the Kwong Hui Energy will provide project financing of about 600 million U.S. dollars, so that the Jaipur project by 2018 to achieve annual output of 1 million tons of crude oil targets. In the case of Cazol, the Dutch company will then transfer the 5% per cent of its TBM stake to Kwong Hui Energy. In addition, Xinjiang Guanghui liquefied natural Gas Company, a subsidiary of the company, repurchase its 10% stake in Xinjiang Jimunai LNG by 10 million dollars in cash to the British Jersey registered CAOG company, thereby achieving 100% holdings. While oil and gas projects continue to expand at the same time, its capital chain has also been under pressure, continue to expand financing has been put on the agenda. Not long ago, its holding subsidiary Xinjiang Guanghui Petroleum Co., Ltd. and the National Development Bank, Xinjiang Uygur Autonomous Region Branch signed a 669 million-dollar loan contract, the company's holding subsidiary Xinjiang Guanghui Petroleum Co., Ltd. and China Export and Import Bank of Xinjiang Uygur Autonomous Region Branch signed a 32 million-dollar loan contract. "In the case of such a tight capital chain, the company has a 40% stake in the red-Nao railway, as well as a need to give blood transfusions to oil and gas projects because of easing capital tensions. One industry insider said.