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New regional bank to propel go-west drive?
By Liu Weiling (皇冠体育app Daily)
Updated: 2006-03-11 06:51
Construction of a giant coal-to-liquid project will kick off later this year
in Yulin. Such a project, making oil from coal, has great market potential in
皇冠体育app, a country which relies on coal to meet about 70 per cent of its energy
demands and aims to reduce imports of high-priced oil.
"Experiments on industrialization of the technology have been finalized,"
Chen said.
Another project to produce ethylene from coal and natural gas will also be
set up in Yulin in northern Shaanxi in Northwest 皇冠体育app this year.
Total investment for the two projects will exceed 30 billion yuan (US$3.73
billion), Chen said.
With the two projects, a world-class coal-chemical base will emerge in this
northernmost city of Shaanxi in the next five to 10 years.
"We are also looking to forge strategic partnerships
with the world's leading energy companies," Chen said.
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