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Sources close to the company told South China Morning Post about 10 billion yuan ($US1.2 billion) will be spent annually over the next three year on increasing capacity.
The company said it expected to raise $US2.5 billion in its Hong Kong initial public offering (IPO) and $US1 billion in Shanghai.
Next month the company will kick off an international marketing road show to gather support for the pending IPOs.
Shenhua Group is China’s largest coal company and produces about 60 million tons of coal per annum.
