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What is China Energy Investment Corp? It's the company investing $83.7 billion in West Virginia

The West Virginia Department of Commerce announced Thursday China Energy Investment Corporation Limited’s plan to invest $83.7 billion in shale gas development and chemical manufacturing projects in West Virginia.  It's the largest investment in the state's history.

Planning for the projects are underway and will proceed in phases over the course of 20 years. The projects will focus on power generation, chemical manufacturing, and underground storage of natural gas liquids and derivatives.

So what is China Energy Investment Corporation?  We've got the answers here.

JUST THE FACTS:

*With an estimated 326,000 staff, China Energy Investment Corporation has a workforce almost four times bigger than the entire U.S. coal-fired power industry in 2016. (Reuters)

*China’s top coal miner Shenhua Group Corp has taken over China Guodian Group Corp, among the country’s top five state power producers, in a deal that has created the world’s largest power utility worth $278 billion.  They are now called China Energy Investment Corporation. (Reuters)

*Based on market capitalization, this is the 11th largest company in the world.  Apple is #1 followed by Google, Microsoft, Facebook, Amazon, Berkshire Hathaway, Johnson & Johnson, Exxon Mobile, JP Morgan and Bank of America rounding out the top 10. (CNBC)

*The company has the installed capacity topping 225 gigawatts (GW) and is the world’s biggest power company by capacity. (CNBC)

*It is the largest wind power developer in the world with 33 gigawatts of capacity and the biggest coal producer. (CNBC)


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