Thread Content
Yulin Energy Group’s ethylene glycol project has received an investment of 300 million yuan from the coal conversion fund. Author/Source: Yihua Coal Chemicals. Date: 2020-01-07. Clicks: 19. To accelerate the financing process for this ethylene glycol project, the Chemical Materials Company has been in active discussions with the Yulin Coal Conversion Fund Company, and as a result has received an investment of 300 million yuan from that fund. This project is the first among the enterprises under Yulin Energy Group to attract fund investment, and it is also one of the first projects to receive investment from Yulin’s coal conversion fund. The ethylene glycol project adopts a diversified equity structure with the group holding a controlling stake while attracting external investors to invest as well; this approach not only enables the introduction of capital but also enhances the financing capabilities of financial institutions, providing solid financial support for the high-quality advancement of the project. It is understood that the first phase of the coal-to-ethylene glycol project of Yulin Energy Group Co., Ltd. is located in the southern area of the Qingshui Industrial Park. It covers a total area of 1,711 mu, with an estimated investment of 5.8 billion yuan; completion and operation are scheduled for June 2021. Using coal as a raw material, this project generates syngas through coal gasification; CO and H2 are separated via gas purification, and ethylene glycol is synthesized indirectly through coupling and hydrogenation, with by-products including DMC, crude ethanol, mixed alcohols, sulfur, liquid oxygen, and liquid nitrogen. Once the project is completed and put into operation, it is expected to generate annual revenue of 2.897 billion yuan, pay taxes amounting to 483 million yuan, and create profits of 607 million yuan. It will also provide employment for 600 people, offering significant economic and social benefits.