Technologies, Inc. Coal-to-Oil project approved
on: March 28, 2008, 4:29 pm
Release Author: Additron
Release Summary: Leading coal-to-liquid fuels company Additron
Technologies, Inc. has received initial governmental approval
to build a 5 billion Yuan ($ 713 million) coal-to-oil project
in Shaanxi Province
Release Body: SHANGHAI, R.O.C., March 29, 2008 --
coal-to-liquid fuels company Additron Technologies, Inc.
have received initial governmental approval to build
a 5 billion Yuan ($ 713 million) coal-to-oil project in Shaanxi
experts sent by the National Development and Reform Commission
(NDRC) have finished assessing the project in Yulin in
the Northwest China province, Alexander Chen, CEO of Additron
Technologies Inc., told China Daily yesterday.
NDRC hasn’t yet given its final permission to start
building the venture, he said.
capacity of the project will reach 5 million tons of fuel products
a year, a source with Additron Technologies, Inc.
had told China Daily earlier.
Technologies, Inc. will partner with an undisclosed major
oil company on the project, Chen said, without elaborating.
2020, coal-to-oil projects under Additron Technologies,
Inc. will have the capacity of 20 million tons per year,
said an Additron Technologies, Inc. company spokesman.
already meets up to 70 percent of China’s energy needs,
mostly for the power and steel sectors.
imports have been increased to fuel China’s booming economy,
spurring the nation to look for technologies that can turn some
of its coal reserves into fuel and other chemicals.
first direct coal-to-oil plant will start operation this year,
according to China’s largest coal producer Shenhua.
project is based in Erdos in the Inner Mongolia Autonomous Region.
annual output capacity is 1.08 million tons, and will consume
3.45 million tons of coal.
estimate that by 2020, coupled with an annual capacity of 20 million
tons of bio-oil, China’s coal industry would be able to
produce 50 million tons of oil products every year to help reduce
the nation’s oil imports.
Details: Additron Technologies Inc.
Shen Xiang Road, Zhu Jia Jiao Town
Qing Pu Area, Postalcode: 201714
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