Chifeng City signed a framework agreement with Beijing Shenwu Group for a project to produce 700,000 tons of ethylene glycol per year

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Chifeng City and Beijing Shenwu Group signed a framework agreement for a project to produce 700,000 tons of ethylene glycol per year. Author/Source: Date: 2016-12-29. Clicks: 11. On December 28th, Chifeng City and Beijing Shenwu Group held a signing ceremony in Changping, Beijing, to sign the framework agreement for this project. Dr. Wu Daohong, Chairman of the Board of Shenwu Group, attended the signing ceremony. This project is funded and constructed by Beijing Shenwu Environmental Protection Technology Co., Ltd. Aiming to make full use of the advantages of Bayan Right Banner, such as its relatively abundant water resources and proximity to coal resources from open-pit mines, a coal-electricity-chemicals complex is planned to be established there. With a total investment of 9.7 billion yuan, this complex will enable the staged utilization of 4 million tons of coal per year, resulting in an annual production of 700,000 tons of ethylene glycol and 100,000 tons of related products. All preliminary work will be completed in the first half of next year, with construction starting in the second half. Once operational, it is expected to generate an annual output value of 5 billion yuan, annual tax payments of 630 million yuan, and create 900 jobs. Shenwu Group is a leading enterprise in China’s energy conservation and environmental protection sector; for 20 years, it has been specialized in the efficient and clean utilization of fossil fuels, mineral resources, and renewable resources. It has successively received honors such as **Level Technological Innovation Demonstration Enterprise and first place among the top 20 clean technology enterprises in China. The completed projects enable energy savings of over 30 million tons of standard coal per year and a reduction in carbon dioxide emissions of over 60 million tons per year. Investment is being accelerated in the industrial development of eastern Inner Mongolia, with planned investments amounting to 100 billion yuan.