09 August 2007 11:25 [Source: ICIS news]
SINGAPORE (ICIS news)--Kingboard Chemical said it will invest in a methanol project in ?xml:namespace>
Kingboard will pay Hong Kong dollar (HK$)120m ($15.3m) for a 36.5% stake in G-Prop which planned to buy a Chinese firm for yuan (CNY) 60m ($7.9m), both companies said in statements to the Hong Kong stock exchange late on Wednesday.
The Chinese company, Inner Mongolia Yize Mining, planned to build a coal-based methanol plant at Erdos,
Yize Mining also planned to apply for rights to explore a coal mine near the project, they added.
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