“Signing of investment agreement for new coal chemical project in the “Coal Capital of Southern Xinjiang”

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“Signing of Investment Agreement for New Coal Chemical Project in the “Coal Capital of Southern Xinjiang” Author/Source: Huahua Network – Coal Chemical Industry Date: 2021-11-03 Clicks: 18 On October 21, Henan Energy and Chemical Group Co., Ltd. signed a framework agreement for project investment with the people’s government of Baicheng County in Xinjiang Uygur Autonomous Region. Liu Tongsheng, Deputy Secretary of the Party Committee of Henan Energy; Zhao Peng, Secretary of the Baicheng County Party Committee and Executive Deputy County Head; Zhang Lin, Deputy Chief Engineer of Henan Energy, Secretary of the Party Committee and Chairman of the Chemical New Materials Company, among others, attended the signing ceremony. At the signing ceremony, Zhao Peng and Zhang Lin signed the agreement on behalf of their respective parties. Under the agreement, the two parties plan to cooperate in Bai County to initially invest in the construction of a coal coking plant with an annual capacity of 1.5 million tons, an ethylene glycol plant with an annual capacity of 200,000 tons, and a 1,4-butanediol plant with an annual capacity of 200,000 tons. At the signing ceremony, Liu Tongsheng noted that since entering Xinjiang in 2008, Henan Energy has actively responded to policies such as the Western Development Initiative and industrial support for Xinjiang. It has designated Xinjiang as a location for strategic expansion, increased its investment in development projects there, and integrated itself into the local economic and social development of Xinjiang. To date, a strategic development framework featuring industrial parks and two bases has been established. In particular, industries represented by comprehensive utilization bases for coal, oil, and gas energy will become important drivers for the development of Henan Energy’s operations in Xinjiang. A new economic development model centered on energy, chemicals, and electricity will gradually take shape, helping to strengthen, optimize, and expand Henan Energy’s enterprises in Xinjiang and providing strong impetus for the high-quality development of Baicheng’s economy. Zhao Peng said that Baicheng County is renowned as the \"Coal Capital of Southern Xinjiang\". It boasts abundant natural gas and mineral resources, as well as a wide variety of coal grades of high quality. It serves as an important energy base for the Aksu Region and entire Xinjiang, and also a key pillar of the industrial economic belt on the southern slope of the Tianshan Mountains. Taking the signing as an opportunity, both parties will step up their efforts, accelerate the pace of cooperation, ensure the smooth progress of project construction, facilitate the early commissioning and realization of benefits from the project, and promote better development for both sides. After the ceremony, the two sides held discussions to exchange views on the specific details of the framework agreement.