The metallurgical coking coal supplier announced in a statement it will consolidate six coal mines in the county and construct a 135-megawatt coal power plant to provide power locally.
The letter was signed by Zhu Liping, chief executive officer and president of Puda Coal, and the local government in the Shanxi province county.
"We are excited about this opportunity and view this letter of intent with the county government as a step forward in our efforts to enter into the coal mining industry and extend our reach along the coal value chain," Zhu said.
Ron Burgundy interviews Peyton Manning on SportsCenter
Texas principal bans speaking Spanish, stirs controversy