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Space Changzheng Chemical signed a \"Strategic Cooperation Framework Agreement\" with Inner Mongolia Yitai Author/Source: Huahua Net Coal Chemicals Date: 2020-05-27 Clicks: 7 On May 21, Space Changzheng Chemical Engineering Co., Ltd. and Inner Mongolia Yitai Group Co., Ltd. officially signed a \"Strategic Cooperation Framework Agreement\" in Ordos, Inner Mongolia. Both parties stated that since 2013, Yitai Group and Aerospace Engineering have engaged in close cooperation on projects such as those in Hangjin Banner and Yining; a positive relationship based on mutual trust and benefit has been established between them. Guided by the basic principles of \"sincere cooperation, complementary strengths, fairness and rationality, achieving a win-win outcome, and common development,\" the two parties agreed to form a strategic partnership to carry out collaborative efforts in gasification technology and the advanced processing of related machinery. Both parties are willing to use the Yitai Highway project as a new opportunity to pursue multi-level and comprehensive cooperation, ranging from the business aspect to the technical and capital aspects. The highway project is not only a key focus for the strategic development of the Yitai Group but also a key initiative for innovation in the business model of the Aerospace Engineering Company. Both parties will attach great importance to this opportunity for cooperation, seize it, and advance swiftly. Tang Guohong, Chairman of the Aerospace Engineering Company; Jiang Congbin, General Manager; Sun Qingjun, Deputy General Manager; Liu Chunlin, Vice President and Chief Accountant of Yitai Group; Zhang Jingquan, Vice President of the group and Chairman of Yitai Co., Ltd.; Qi Yaping, Vice President of the group; Liu Jian, General Manager of Yitai Co., Ltd.; Zhang Zhigong, Chairman of Yitai Coal-to-Oil Company; Wang Li, General Manager of the group’s Coal Chemicals Management Department; and Chu Zhenhui, General Manager of Yitai Coal-to-Oil Company, were among those who attended the signing ceremony. The 2 million-ton coal-to-oil project in the Yitai Dadao Industrial Park has a total investment of 29.07 billion yuan. It is the only coal indirect liquefaction industrialization demonstration project approved for construction under Inner Mongolia Autonomous Region’s 13th Five-Year Plan. Once completed, this project will play a significant role in achieving clean and efficient utilization of coal, promoting local economic development and the adjustment of enterprise industry structures, as well as ensuring energy strategic security. Construction of the project began in June 2017; to date, a total investment of 903 million yuan has been made, and it is expected that the project will enter its full-scale construction phase in the second half of 2020.