Hulun Buir, Inner Mongolia - Hulun Buir Energy Chemical (HBEC) received approval from local authorities in May 2014 on its 400kT/year ethylene glycol project. HBEC was set up the same month as a subsidiary of state-owned mining company Shandong Energy Group.
The facilities will be located in the Yakeshi Industrial Park in Hulun Buir, Inner Mongolia autonomous region, and are scheduled to be completed in three years. The project will receive RMB5.4bn ($871mn) investment, of which RMB5bn is earmarked for construction.
The project plans to utilize brown coal rich in Hulun Buir and also build a 2×12MW back pressure turbine to make use of residual heat.
Shandong Energy Group is headquartered in Jinan, Shandong province with 200,000 employees and arms in mining, new energy and logistics. The group has affiliates in a dozen provinces across China as well as oversea locations including Canada and Australia.
According to its website, the group plans to double its main business annual revenue to RMB270bn with RMB27bn total profit by the end of 2015.
XE Currency Conversion: 18 June, 2014