Sinopec Corp (NYSE: SNP, HKG: 0386, SHA: 600028), China's biggest refiner, plans to invest ¥70 billion ($11.29 billion) building what could be the world's largest and most efficient coal-to-natural gas project, according to an announcement at the Xinjiang provincial government's website. The production base is to be located in Zhundong, where Sinopec has two mining areas with 14.8 billion tons of coal reserves. Construction is expected to take eight to 10 years to finish. The natural gas made in the region will be transferred to Zhejiang and Guangdong provinces, China's two economic power houses, with an annual capacity of 30 billion cubic meters.

You are currently reading words of total words in this article.
To continue reading this article, you must be a subscriber. Log in now..

Finish this article for free.
@2017 China Economy @ China Perspective.
All Right Reserved.
Server SSL Certificate