Zhejiang Tongkun Holding and Shanghai Baosteel Gas sign agreement for cooperation on syngas production for a 200,000-ton ethylene glycol project

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Zhejiang Tongkun Holding and Shanghai Baosteel Gas signed a cooperation agreement for syngas production in a 200,000-ton ethylene glycol project / Source: Lujiang County People’s Daily ** Date: 10-21-2019 Clicks: 7 On the morning of October 18, a cooperation agreement for syngas production in a project aimed at producing 1.2 million tons of ethylene glycol per year was signed between Zhejiang Tongkun Holding Group and Shanghai Baosteel Gas Company. At the same time, a steam supply agreement was signed between Anhui Youshun New Materials Co., Ltd. and Shenwan Hefei Lujiang Power Generation Co., Ltd., all of these events taking place at the headquarters of Tongkun Group in Tongxiang, Zhejiang. Xu Huawei, the county head, Qiu Zhongwei, chairman of Shanghai Baosteel Gas Co., Ltd., and Chen Shiliang, chairman of Tongkun Group, attended the signing ceremony. In his speech, Xu Huawei noted that Lujiang is a region full of hope, eager for development, and possessing great potential. Since entrepreneurs have chosen Lujiang, the region will surely dedicate its utmost sincerity and make every effort to support the construction and development of these projects. Wish Tongkun Holdings, Shanghai Baoqi, and Shenwan Lujiang Power Plant a successful and fruitful cooperation, leading to mutual benefit for all! Qiu Zhongwei, Chairman of Shanghai Baosteel Gas Co., Ltd., and Chen Shiliang, Chairman of Tongkun Group, said in their speeches that with today’s successful signing, the project has officially entered the countdown phase before its commencement. The companies are confident and determined to carry out this project successfully, and they will work to complete it and put it into operation as soon as possible, so as to contribute to the economic development of Lujiang. At the same time, they hope that Lujiang will continue to show concern and support for this project. The successful signing of these two agreements marks the full commencement of the Lujang project, which has an annual production capacity of 1.2 million tons of ethylene glycol along with the associated synthesis gas production, and it also signifies that the Longqiao Chemical Industrial Park has entered a new phase of development. It is reported that Zhejiang Tongkun Group is a large-scale joint-stock listed company whose main business involves the production of PTA, polyester, and polyester fibers; it has been ranked among China’s top 500 enterprises for 18 consecutive years ； Shanghai Baosteel Gas is a large-scale specialized company that integrates the construction, production, management, and sales of industrial gas projects. It is a joint venture between the Hong Kong-based TAIC Group and Baosteel Metal, which is part of China Baowu Steel Group, one of the world’s top 500 companies. The two companies have joined forces to invest 11.4 billion yuan in Lujiang to jointly build a project that will produce 1.2 million tons of ethylene glycol per year, along with the necessary syngas.