Daqin Railway
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Daqin Railway Company Limited was initially based on 653 km of coal transportation tracks laid in north China between 1985 and 1992. Based in Datong in Shanxi, Daqin Railway covers a total length of 1000 km. This company was listed in Shanghai Stock Exchange with an initial public offering of US $1.9 billion in 2006.
Brief history
This company, formed in 2004, is a state-owned enterprise in transportation sector. ‘Daqin’ comes from combining names of two cities Datong and Qinhuangdao. It was formed to transport coal to thermal power stations and is principal coal carrying body operating in China.
Products and services
Primary activity of Daqin Railways is transportation of coal in China mainland. This railway network carries coal from mining sites to thermal power stations. A 653 km coal transportation track built from1985 to 1992 was developed to a network of 1000 km connecting coal mines of China to thermal power stations. This electrified double track railway system passing through Shanxi, Inner Mongolia, has a capacity of carrying 20,000 tons of freight annually.
In 2004, freight carried amounted to 150 million tons, which increased to 250 million tons in 2006. In 2007 Daqin Railways transported 300 million tons of coal.
Financials
Daqin Railways as on March 2008 earned net profit of US $0.56 billion from sales worth US $2.07 billion. Total assets amounted to US $5.25 billion during that time. In 2008 Daqin Railway is supposed to make a issue of 15 billion corporate bonds at US $10 per bond. About 40,88 people are employed with Daqin Railway.
