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50 Billion Yuan Invested in Xinjiang Coal Chemical Industry Project – Cooperation Agreement Signed Author/Source: Huahua Net Coal Chemicals Date: 2022-06-01 Clicks: 16 On the morning of May 31, Xinjiang Energy Group Co., Ltd. held a signing ceremony for a strategic cooperation framework agreement with Aerospace Investment Holding Co., Ltd. and Aerospace Changzheng Chemical Engineering Co., Ltd. The three parties will work together to advance the coal chemical project in the Santanghu mining area through strategic coordination, operational collaboration, and the integration of industry and finance, and will engage in comprehensive and in-depth strategic cooperation in areas such as the clean and efficient use of coal and the development of the entire industrial chain for a modern coal chemical circular economy. Against the backdrop of the \"dual carbon\" strategy, and in line with the positioning of **\"three bases and one corridor,\" Xinjiang is actively promoting the clean and efficient use of coal, as well as the development of a circular economy industry chain for coal chemicals. By cooperating with Aerospace Investment Holding Company and Aerospace Changzheng Chemical Engineering Co., Ltd., Xinjiang Energy Group is sure to achieve a powerful combination of strengths and complementary advantages, thereby facilitating the rapid implementation of the projects. Once completed, the project will play a significant role in achieving circular complementarity within the modern coal chemical industry chain and supply chain of the Hami North New Comprehensive Energy Base, as well as in promoting the transformation and upgrading of the coal chemical industry and the high-quality development of the local economy. Hu Guoqiang, Secretary of the Party Committee and Chairman of Xinjiang Energy Group, said that efforts will be made to promote the advanced, diversified, and low-carbon development of coal chemical projects in the Santanghu mining area. The goal is to rapidly establish a model industrial park for coal-based new materials, new energy, and intelligent technologies, characterized by intelligent mining methods, clean and efficient utilization, and green low-carbon transformation. Gradually, a deep-processing coal base with a capacity of tens of millions of tons per year will be created, integrating coal extraction, processing, and combined heat and power generation. At the signing ceremony, Han Shuwang, Secretary of the Party Committee and Chairman of Aerospace Investment Holding Company, and Jiang Congbin, Secretary of the Party Committee and Chairman of Aerospace Changzheng Chemical Engineering Company, introduced the situations of their respective companies. They both expressed their intention to use the coal chemical project in the Santanghu mining area as a starting point to further deepen cooperation in areas such as the integration of wind, solar, thermal energy, and storage technologies, the combination of new energy sources with modern coal chemical processes, and the production of hydrogen using green electricity. Such efforts are aimed at promoting industrial development in the western regions and contributing to the achievement of carbon peak and carbon neutrality through the efforts of state-owned enterprises. The coal chemical project in Santanghu Mining Area is one of the key projects in Xinjiang Energy Group’s 14th Five-Year Plan, with an investment of 50 billion yuan planned. The Shitoumei No.1 open-pit coal mine of Xinjiang Energy Group is the only coal mine in the Santanghu mining area that has been built and put into operation. Its approved production capacity is 15 million tons per year, and the coal features low ash content, high calorific value, and low levels of harmful elements, making it possible to provide a high-quality and sufficient supply of coal for coal chemical projects.