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)
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