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On September 1, the project to build 2 million tons of coal-to-methanol converted to olefins, which was invested by Hong Kong Zhongyi Group, was established in Dongsheng District, Erdos City, Inner Mongolia. After the project is completed and put into production, it will become the largest coal-to-methanol production base in Inner Mongolia.
The project has a total investment of 10 billion yuan. The first phase of the project will produce 200,000 tons of coal to methanol per year. It is estimated that after the completion of production, it will realize sales revenue of 290 million yuan and profits and taxes of 130 million yuan. The second phase of the project will produce 1.8 million tons of coal-to-methanol and 600,000 tons of olefins per year and will start construction before 2007. The construction of the project will play a positive role in extending the coal industry chain, increasing the added value of products, and realizing the transformation of coal resources on the spot.
According to reports, Hong Kong Zhongyi Group is a multinational industrial consortium invested and established by the United States Citibank and the Swedish National Bank. It has 12 companies in the world and has strong economic strength and investment industry experience.
The project has a total investment of 10 billion yuan. The first phase of the project will produce 200,000 tons of coal to methanol per year. It is estimated that after the completion of production, it will realize sales revenue of 290 million yuan and profits and taxes of 130 million yuan. The second phase of the project will produce 1.8 million tons of coal-to-methanol and 600,000 tons of olefins per year and will start construction before 2007. The construction of the project will play a positive role in extending the coal industry chain, increasing the added value of products, and realizing the transformation of coal resources on the spot.
According to reports, Hong Kong Zhongyi Group is a multinational industrial consortium invested and established by the United States Citibank and the Swedish National Bank. It has 12 companies in the world and has strong economic strength and investment industry experience.
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