[Haichuan Project Updates] Tiefa Energy invests 10.9 billion yuan in a 4.5 million-ton coal chemical project in Liaoning
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On June 4, Tiefa Energy Company and Zhengnan Coal Chemical Co., Ltd. signed a framework agreement on investment cooperation for a project aimed at the comprehensive utilization of 4.5 million tons of coal-based coke and by-products at the Coal Machinery Logistics Center. Chen Rongde, Secretary of the Party Committee and Chairman of the company, Zhang Dongming, Vice Mayor of Tieling City, Liu Qingqiu, Chairman of Zhengnan Coal Chemical Co., Ltd., and Liu Jun, Secretary of the Party Committee of Diaobingshan City, attended the signing ceremony.
In his speech, Chen Rongde said that Zhengnan Group is the most technologically advanced and largest enterprise in Heilongjiang Province that converts coke oven gas into natural gas. Its subsidiary, Zhengnan Coal Chemical Co., Ltd., is a large private enterprise in Hegang City. After nearly 10 years of development, it has become the second-largest integrated producer and supplier of coke, coke by-products, and liquefied natural gas in the Northeast region, making significant contributions to the economic development of Hegang. There is great potential for cooperation between Tiefa Energy Company and Zhengnan Coal Chemical Co., Ltd. The signing of the Cooperative Framework Agreement will surely further expand the scope of cooperation, elevate its level, and enrich its content. By leveraging their respective advantages in terms of resources, technology, and management, both parties can deepen mutually beneficial cooperation and achieve common development.
In his speech, Zhang Dongming said that the cooperation between Zhengnan Coal Chemical Company and Tiefa Energy Company represents a combination of strong partners, and it serves as an example of deep collaboration between state-owned and private enterprises. This will enable Zhengnan Coal Chemical Co., Ltd. to take advantage of the resources provided by Tiefa Energy Co., Ltd., such as coal, dedicated railway lines, industrial steam, and electricity, in order to significantly reduce its investment costs and accelerate the construction of the project for the production of 4.5 million tons of coal-based coke along with the comprehensive utilization of related by-products ； It helps Iron Law Energy Co., Ltd. to further expand the market for coal development and utilization, thereby generating greater returns for state-owned capital. At the same time, the successful implementation of the project for the comprehensive utilization of 4.5 million tons of coal-based coke and by-products will undoubtedly provide important support for the industrial transformation and upgrading of Tieling City.
I can’t figure out where to look for this project
Will it mainly work? I watched a report yesterday saying that 40% of the coal tar oil production facilities across the country are not in operation; especially with low oil prices, how can they ensure profitability?