03 November 2010 07:39 [Source: ICIS news]
SHANGHAI (ICIS)--China’s Shenhua Group and US-based Dow Chemical said on Wednesday they have submitted an application to the Chinese government for approval to build and operate a new integrated coal-chemical complex in Yulin city, Shaanxi province.
“The [project application report] PAR submission for government approval marks another important milestone for the project and we are truly excited at the progress that we’ve made so far,” president of China Shenhua Coal to Liquid and Chemical Co Wu Xiu-Zhang said in a statement.
The $10bn (€7.1bn) coal chemical complex was scheduled to start up in 2016 and includes 23 production units, auxiliary projects, supporting and storage facilities, with a capacity to produce around ?xml:namespace>
The project would use advanced technology to optimise the use of natural resources and minimise its environmental footprint and water usage, according to the statement.
The products produced would meet the highest international specifications and would provide a local and reliable supply to Chinese industries, it added.
The Chinese government had earlier in March granted permission for the two companies to carry out preliminary work for the coal-chemical complex.
“We look forward to implementing a successful project in Yulin, which will be a key element of our business growth strategy – ranging from our building blocks to our downstream performance and advanced material portfolios across Asia Pacific,” said Peter Sykes, president of Dow Greater China.
($1 = €0.71)
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