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The Hohhot Key Industries Fund completed its investment in Jiu Tai New Materials’ 1 million-ton ethylene glycol production project. Author/Source: Yaha Coal Chemicals. Date: April 28, 2020. Clicks: 14. In accordance with the unified arrangements of the city authorities, Hohhot Urban and Rural Construction Investment Company and the fund manager, Chengshi Company, jointly carried out the due diligence and preparatory work for the investment in Inner Mongolia Jiu Tai New Materials Co., Ltd. In January 2020, the Hohhot Key Industry Development Fund, together with Hohhot Chengshi Equity Investment Management Co., Ltd. and Ordos Liansheng Coal Operation Co., Ltd., signed a partnership agreement to make equity investments in Inner Mongolia Jiutai New Materials Co., Ltd. In February 2020, Phase 3 of the project successfully completed the disbursement of the total amount of 300 million yuan, as stipulated in the agreement, for Phases 1 and 2. Inner Mongolia Joutai New Materials Co., Ltd. was established in March 2017; the project is located in the western area of the Tuoketuo Industrial Park in Helingeer New Area, with a total investment of 11.78 billion yuan. The project is jointly invested in and constructed by Inner Mongolia Jiu Tai New Materials Company and Air Products Corporation of the United States. With an annual production capacity of 1 million tons of ethylene glycol, it is set to become a high-standard, high-starting-point intelligent coal chemical project. The project construction period is 3 years, with completion and operation planned for 2020. The successful allocation of funds for the Jiutai New Materials project has fully leveraged the guiding and amplifying role of Hohhot’s financial resources, optimized the allocation of financial assets, and effectively attracted private capital to invest in the new materials industry in Hohhot. It supports the development of strategic emerging industries in the city, and is of great significance for promoting industrial transformation and upgrading in Hohhot, addressing the financing challenges faced by enterprises, and enhancing the overall level of industrial development in the city. The Municipal Urban and Rural Construction Investment Company and Chengshi Company will also continue to play a role in driving economic growth and achieving the set goals.