Company has launched plans for developing coal mines in Shantung province by investing -capital in coal companies in each producing area, it was revealed here today.
Making a joint investment with the Mitsui Mining Company of the famous Mitsui interests, the North China Development Company will start working the Chunghsin coal mine with an estimated capital of Y.25,000000. The. N.C.D.C. also will enter into a partnership with the Paitao Coal Mining Company to develop the Chingching coal mine. With shipping centres located at Tsingtao and Tientsin the Chunghsin and Chingehing coal will be transported to Japan to help solve the coke famine problem. there.
The North China Development Company will hold shares of the Luta Mining Company, a subsidiary of the Shantung Mining Company which is operating the Tzuchuan coal mine. The Luta Mining Company is planning to increase its present capital of ¥.10,000,000, of which Y.2,500,000 is paid up. After its expansion, the Luta firm will be encouraged by the N.C.D.C. to amalgamate with the Company which operates the an coal mine.—Domei
Text read from the printed page and cleaned; old type leaves the occasional error.