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CRM plans 4.5Mt coal capacity by 2H09(BNamericas.com Via Thomson Dialog NewsEdge) Brazilian coal mining company CRM is due to reach capacity of 4.5Mt/y starting in the second half of 2009, the company's president David Turik Chazan told BNamericas. CRM expects to produce 2.1Mt of coal this year, its current capacity and the same as in 2005, he said. The company will up its capacity to supply the 350MW Candiota III coal-fired power plant in Rio Grande do Sul state, which is scheduled to start operations in 2010. CRM is conducting a bidding process to hire an engineering firm to handle the expansion, Chazan said, adding the winner is due to be announced next month. "The governments of Brazil and Uruguay are in talks to build another 350MW [coal-fired power] project. This is still under negotiations but the perspectives are very positive, as we could supply 2.5Mt/y of coal to that project too," Chazan said, adding CRM also has its eye on other projects. The mining company expects gross revenues of 90mn reais (US$41mn) in 2006, flat compared to last year. CRM is controlled by the Rio Grande do Sul state government. Copyright 2006 BNamericas.com |