YANZHOU Coal Mining Co said it has completed its 2008 coal supply contracts with Huadian Power International Co which will boost its revenue by 942.6 million yuan (US$135.8 million).

The company agreed to sell 7.3 million tons of the fuel to Huadian this year, up 52.1 percent from the 2007 contractual amount, it said in a statement filed with the Shanghai Stock Exchange. The net unit price is 470.15 yuan per ton, up 37.9 percent from last year's.

The deal would add 942.6 million yuan to Yanzhou Coal's 2008 revenue, the Shandong Province-based company said.

Yanzhou Coal's 2007 net profit jumped 36.1 percent to 3.23 billion yuan while net sales rose 21.3 percent to 14.6 billion yuan, based on international accounting standards.

The coal miner said the increment in supply is because Huadian, one of China's five major power utilities, is expanding generating capacity.

Yanzhou Coal and larger competitors China Shenhua Energy Co and China Coal Energy Co are benefiting from the rising fuel prices and the demand from power plants.

Yanzhou Coal said any additional sales beyond the contractual amount will be based on market prices.

The company sold 5.44 million tons to Huadian in 2007.

Yanzhou Coal fell 0.47 percent to 25.28 yuan yesterday.