The 1 million tons per year coal-to-oil demonstration project of Yitai Yili Energy has been approved by the **National Development and Reform Commission

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This post was last edited by liaifeng on 2018-9-1 at 12:22. Itai Yili Energy’s 1 million tons per year coal-to-oil demonstration project has been approved by the **Development and Reform Commission. Author/Source: Date: 2017-07-31. Views: 27. On July 27, 2017, Itai’s B-share shares issued a announcement stating that its subsidiary, Itai Yili Energy Co., Ltd.,’s 1 million tons per year coal-to-oil demonstration project had been approved by the **Development and Reform Commission. The full text of the announcement is as follows: Announcement by Inner Mongolia Yitai Coal Co., Ltd. regarding the approval granted by the **Development and Reform Commission for the 1 million tons per year coal-to-oil demonstration project of its holding subsidiary, Yitai Ili Energy Co., Ltd. The 1 million tons per year coal-to-oil demonstration project (hereinafter referred to as “this project”), invested in and constructed by Yitai Ili Energy Co., Ltd., a holding subsidiary of Inner Mongolia Yitai Coal Co., Ltd. (“the Company”), received the “Approval from the **Development and Reform Commission for the 1 million tons per year coal-to-oil demonstration project of Yitai Ili Energy Co., Ltd.” on July 26, 2017 (Document No. Fa Gai Neng Yuan 1393, hereinafter referred to as “the document”). According to this document, in order to promote the clean and efficient use of coal in our country, enhance the level of advanced coal processing technologies, diversify the sources of clean petroleum products, increase the added value of coal resources in Xinjiang, and foster economic development and social stability in that region, the construction of this project is approved. The project is located in the Yitai Yili Industrial Park, Chabuchar Xibe Autonomous County, Ili Kazakh Autonomous Prefecture, Xinjiang Uygur Autonomous Region. The planned production capacity is 1.0152 million tons per year of various petroleum products such as diesel, naphtha, and liquefied petroleum gas; meanwhile, by-products such as mixed alcohols and sulfur will also be produced. The total investment for the project is 16.27 billion yuan, of which the capital contribution amounts to 4.85 billion yuan, accounting for 30% of the total investment. The shareholding structure and capital contribution ratios of the project are as follows: Inner Mongolia Yitai Group Co., Ltd. holds 9.8%, while our company holds 90.2%. This project is a **coal-to-oil demonstration project** that focuses on carrying out demonstration tasks such as the industrialization of the 3,000-ton-class multi-nozzle opposed water-coal slurry gasification technology, the industrial application of improved Fischer-Tropsch synthesis reactors and new-generation catalysts, as well as the mechanical evaporation and crystallization treatment of concentrated brine. Yitai Yili Energy Co., Ltd. will promptly handle the relevant procedures such as planning permits, resource utilization, and safe production in accordance with the requirements outlined in the documents ； At the same time, actively explore measures to reduce investment risks.