Substantial progress achieved in New Energy Chemical’s first methanol production project using coke oven gas

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Newao Group and Hebei Xinhong Coking Co., Ltd. signed a Letter of Intent for cooperation on the methanol production project using coke oven gas at the Jingxing Mining Bureau. Wu Qinghua, assistant to the director of the Jingxing Mining Bureau and chairman of Hebei Xinhong Coking Company, together with Dai Baizhang, assistant to the general manager of Xinneng Chemical Group and head of the group’s coke oven gas project team, along with relevant project personnel from both sides, attended the signing ceremony. 　　The project is scheduled to start construction in May and be completed and put into operation by the end of June 2009, with a methanol production capacity of 200,000 tons per year. 　　This cooperation enables the two parties to complement each other’s strengths and share resources in the development and utilization of coal-based energy industry chains, thereby playing a positive role in fostering a long-term and stable strategic partnership. It also marks substantial progress and breakthroughs in the New Energy Chemical Group’s first project for producing methanol from coke oven gas.