Sinopec plans to form a joint venture to build a 21 billion yuan coal-conversion project in Inner Mongolia, The Wall Street Journal reported. The National Development and Reform Commission said in a statement on its Web site dated Friday that the project, in which Sinopec will hold a 32.5% stake, will have an annual capacity of 4.2 million metric tons of methanol and three million tons of dimethyl ether (DME) because it is more efficient than diesel and produces fewer emissions. The project, which is expected to start operation around 2010, will also include coal production of 20 million tons a year, said the paper.