China’s Shengtai Group to complete methanol unit in 2015

18 July 2012 03:39  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Inner Mongolia Shengtai Group plans to complete construction of a 1.2m tonne/year methanol project located at Tongliao city in Inner Mongolia in 2015, a company source said on Wednesday.

Inner Mongolia Shengtai Group signed a framework agreement of methanol project cooperation with local government on 10 July, the source added.

The 1.2m tonne/year methanol project, involving two phases with a total investment of yuan (CNY) 6bn ($942m) is expected to start production in 2015, according to the source.

The source did not say when construction will start.

Inner Mongolia Shengtai is a diversified group which focuses on coal, gas, and biomass energy industries, as well as transportation, real estate, tourism and financial industries. The group owns 24 subsidiaries and two holding companies.

($1 = CNY6.37)

By: Viola Pan
+65 6780 4359

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