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Construction begins on Shandong Hengxin’s project for comprehensive utilization of high-temperature coal tar resources / Source: Coal Chemical Industry Information Network Date: February 24, 2020 Clicks: 5 On February 20, 107 projects in Jining with a total investment of 41.8 billion yuan began construction simultaneously. The opening ceremony was held in the format of a main venue combined with video links to the project site. The 107 projects cover various emerging industry sectors such as next-generation information technology, equipment manufacturing, new materials, high-end chemicals, healthcare, and modern logistics. Among them, the comprehensive utilization project for high-temperature coal tar, funded by Shandong Hengxin Group with an investment of 1.8 billion yuan, will produce 100,000 tons of needle coke per year, generating additional sales revenue of 2.7 billion yuan annually; this will effectively break foreign coal-based needle coke’s monopoly on raw materials for China’s electrode industry. The completion of this project will facilitate the expansion of the upstream and downstream industrial chains. It is a typical new materials project; there are also projects involving 1.3 million tons of coal tar oil, as well as projects for converting methanol into ethanol. Once these projects are operational on a large scale, they will enable significant cost savings and generate sales revenues that will rank first in the entire province.