Datang delays MTP project startup to after 2009

28 August 2007 06:16  [Source: ICIS news]

SINGAPORE (ICIS news)--Datang International Power Generation, a Chinese power major, has delayed the start-up of its methanol-to-propylene (MTP) project in Inner Mongolia province to after 2009 as it was in talks with investors, a company spokesman said on Tuesday.

The company planned to take a majority stake and discussions with potential shareholders were expected to conclude soon, he added.

Its board of directors gave the green light to invest in the yuan (CNY) 16.2bn ($2.1bn) project, of which 40% will be used as capital, the company said in a statement to the Hong Kong stock exchange.

The spokesman said the company has obtained approvals from various government agencies for the project and construction work could begin soon.

Datang Power has earlier decided to use Lurgi’s MTP technology for the project in Duolun county, Xilinguole League, Inner Mongolia.

The proposed plant will produce 460,000 tonnes/year of propylene, 120,000 tonnes/year of gasoline and 45,000 tonnes/year of liquefied petroleum gas (LPG) and it had been scheduled to start up in late 2008 or in early 2009.

Dow Chemical’s polypropylene (PP) technology will also be used for a planned 453,700 tonnes/year plant.

($1=CNY7.56)

By: Florence Tan
+65 6780 4359

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