04 July 2012 04:50 [Source: ICIS news]
SINGAPORE (ICIS)--Hong Kong-listed Hao Tian Resources announced on late Tuesday that it will build a 600,000 tonne/year natural gas-based alkylol amine plant at ?xml:namespace>
A framework agreement on the project was signed on 3 July between Hao Tian Resources, Xinjiang Zhuoyue Haorui New Energy and Xinjiang Shaya County People’s Government, according to a statement to the Hong Kong Stock Exchange by Hao Tian Resources.
Under the agreement, Shaya local government will ensure supply of no less than 1bn cubic metres/year of natural gas, as well as land and other necessary resources like utilities for the project.
The local government will offer the best discounts for the natural gas and land.
Hao Tian Resources and Xinjiang Zhuoyue Haorui New Energy will together invest CNY1.5bn ($236m) to establish a joint venture for construction and operation of the project, the statement said.
The statement did not say when the project will come on stream.
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