HK-listed New Times Energy plans CNY5bn LNG project in Shanxi

26 November 2012 09:42  [Source: ICIS news]

SINGAPORE (ICIS)--Hong Kong-listed New Times Energy said on Monday that it plans to partner two other companies to jointly invest yuan (CNY) 5bn ($803m) in the production and distribution of liquefied natural gas (LNG) at Yan’an in Shaanxi province.

The project will cover five sub-units, including an integrated LNG headquarter, a LNG logistics zone, a low-temperature LNG factory for vehicles, a 600,000 tonne/year gas liquefaction plant, and the construction of LNG stations, the company said in a statement.

The entire project is expected to be completed in five years, it said.

The two partners are Sheng Di Investment Management Corp and Zhong Rong Jin Hui Investment Management Corp.

($1 = CNY6.23)

By: Fanny Zhang
+65 6780 4359

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