Zhejiang Energy invests in Yixin Coal Industry; Zhejiang and Shandong deepen cooperation in coal-to-gas projects in Xinjiang

Thread Content

This post was last edited by liaifeng on 2018-7-29 at 15:39. Zhejiang Energy invests in Yixin Coal Industry; Zhejiang and Shandong deepen cooperation in coal-to-gas projects in Xinjiang. Author/Source: Huahua Network – Coal Chemical Industry. Date: 2018-05-04. Views: 11. On April 28, Zhejiang Energy Group invested in Yili No. 4 Mine (Yixin Coal Industry), thereby further strengthening the strategic collaboration and integrated development between Yili No. 4 Mine and Xintian Coal Chemical’s project to produce 2 billion cubic meters of coal-to-natural gas per year. This move enabled coordinated operations between the two parties, marking the start of a deeper level of cooperation in the integrated project, with breakthrough progress being made in this area of collaboration. On the same afternoon, the first on-site working group meeting for the advancement of the Xintian Coal Chemicals and Yili No. 4 Mine integration project was held at Xintian Coal Chemicals. The two parties had in-depth discussions regarding the convening of the \"three meetings\" for Yili No. 4 Mine, as well as supplementary audits, verification of investment amounts, and financing for the integration project. At the meeting, both parties reached a consensus that, as the next step, they would improve the corporate governance structure in accordance with modern enterprise management principles, and make every effort to turn the project into a modern coal chemical complex that is first-class in China and advanced on a global scale. As the project progressed, since last year and especially at the beginning of this year, the two parties held several rounds of discussions regarding investment cooperation for Yili No. 4 Coal Mine. On April 25 of this year, a Memorandum on Advancing the Integration Project between Xintian Coal Chemical and Yixin Coal Industry was signed, laying a solid foundation for the coordinated operation of the project. It is understood that since entering Xinjiang for development in 2004, Xinkuang Group has been committed to building a modern coal chemical base that is \"first-class in China and advanced worldwide.\" It has developed projects such as the Xintian Coal Chemical Plant, which has an annual production capacity of 2 billion cubic meters of coal-derived gas, as well as the Yili No. 4 Mine, with an annual output of 6 million tons of coal. In 2013, the group company successfully introduced a strategic partner – Zhejiang Energy Group Co., Ltd. – and established a \"Xintian cooperation model\" based on cross-shareholding and mutual support. Since the start of cooperation, the project has made significant progress. In 2017, the A-series coal-to-natural gas facility of Xintian Coal Chemical Industry achieved successful commissioning on its first attempt, producing qualified natural gas that was successfully integrated into the West-East Gas Pipeline. In the same year, the first trial run of Mine 4 in Ili was also successful, and the project is now operating steadily.