L&L Secures Coal Loading and Storage Space in Guizhou
Apr 19, 2012, 06:00 ET
SEATTLE, April 19, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L" or the "Company"), a U.S.-based company since 1995 with coal mining and distribution businesses in China, has obtained approximately 32,292 square feet (3,000 square meters) of coal storage and rail loading space from Chengdu Railway Bureau in ShinPingBa, Guizhou.
The Chengdu Railway Bureau ("Chengdu Railway") is one of the largest rail bureaus in China, overseeing railway networks throughout the Sichuan, Guizhou, and Yunnan Provinces.
The addition of this rail loading and storage space will help streamline L&L's Guizhou wholesale platform and distribution network, as well as assist in supplying the recently contracted 400,000 tons of thermal coal to Datang International Power Generation Co., Ltd. and Guodian Yongfu Power Generation Co. over the next year. The coal storage capacity of the space is approximately 50,000 tons.
Dickson Lee, Chairman and CEO of L&L commented, "L&L is working diligently to execute the wholesale contracts we recently signed with two large power companies in Guangxi. This storage and rail loading space with Chengdu Railway is an important link of the supply chain and will help reduce our transportation costs. In a region where a large portion of the coal is still delivered by truck, having a rail access point is an important strategic advantage. Cooperating with Chengdu Railway will provide positive impact for L&L and strengthen our wholesale segment going forward."
The statements containing words that are not historical fact, including statements related to Company's future performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties. Actual results of the future events described in this document could differ materially due to numerous factors and others made by the company filing with the Securities and Exchange Commission. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
L&L Energy, Inc.
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