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