L & L Energy Signs Commitment Document with a Major China Port to Establish a Large Coal Blending and Distribution Center
SEATTLE, Jan. 21, 2011 /PRNewswire/ -- L & L Energy, Inc. (Nasdaq: LLEN) ("L&L" or the "Company"), a U.S.-based company founded in 1995 with coal mining and distribution businesses in China, announced today that on January 19, 2011, L&L entered into a commitment document with Zhanjiang Port (Group) Co. Ltd ("the Port"), the largest public port inside the Zhanjiang Harbor ("the Harbor"), to conduct a feasibility study working towards establishing a large coal blending and distribution center inside the Harbor. The Harbor is owned by the city government of Zhanjiang and is located in the Guangdong Province in South China. The blending and distribution center at the Harbor would play an important role for L&L's operations and sales growth in western China. Following this agreement, a formal delegation consisting of the Port management and Zhanjiang city government officials will visit L&L's U.S. operations to move the coal blending and distribution project forward.
"After three days of onsite meetings at Zhanjiang Harbor with the Port management and government officials, we are excited to enter into written documents to move this coal project forward. Establishing a large blending and distribution center inside Zhanjiang Harbor gives us a strategic opportunity to better serve our customers from both sides of the Pacific Ocean," commented Mr. Dickson Lee, Chairman and CEO. "Moving this project forward and continuing to grow our coal businesses by maximizing our resources will enable us to become a leader in China's coal industry."