Shenhua Group, China's biggest coal producer, plans to invest more than 400 billion yuan ($58.53 billion) over the next decade in facilities to convert coal to oil, methanol and gas, Xinhua news agency reported on Thursday.
Its target is to have the capacity to convert 100 million tonnes of coal into about 30 million tonnes of oil and chemical products by 2020, it added.
A coal-to-liquids plant of Shenhua Group in Inner Mongolia went through a successful trial run earlier this year, producing naphtha and diesel, among other products.
China last year suspended all but two coal-to-oil projects because of high investment risk.
China, the world's largest coal producer and consumer, a few years ago began encouraging coal-to-oil projects to help ease its dependence on imported crude oil.
Shenhua Group is the parent of China Shenhua Energy Co Ltd.
Source: Reuters
No comments:
Post a Comment