China-Thailand chemical quasi-east "coal mining" 200 million set up coal companies

Zhongtai Chemistry (002092.　　SZ) today announced that the company intends to set up Xinjiang Zhongtai chemical quasi-East Coal Co., Ltd. The company announced that it intends to fund its own funds, the establishment of Xinjiang Zhongtai chemical quasi-East Coal Co., Ltd. The nature of the company is limited liability company, registered capital of 200 million yuan, the new company registered capital in place, the initial contribution of 40 million yuan, the rest of the funds in two years to pay enough. The main business for coal mining and Coal Chemical Industry Development (tentatively, the final registration of industry and commerce).　　The new company will actively carry out the mining right, coal mine planning, design and other related work in the quasi-East coalfield. According to the company announcement, June 15, 2007, the company obtains the Qitai County coal mine Caohu One to nine coal mining area 248.6 square kilometer prospecting right, the coal mineral resources reserves total 14.731 billion tons.　　The company intends to build the company's important energy supply and coal chemical production base in Qitai County coalfield, Caohu Mining area, South Huang. Companies have revealed that in the direction of coal development and utilization, the company will combine the South yellow Caohu mining Area coal characteristics, adhere to the coal-electricity as the core, the implementation of chemical materials and chemical energy common development policy. Through the exploitation and utilization of coal resources in Caohu mining area of South Yellow River, the model of electric power aggravation in Zhongtai Chemical industry is formed, and the industrial cluster of circular economy with coal-electricity coal chemical as main body and upstream and downstream is closely combined.　　In addition, the company will also carry out coal deep processing of coal chemical projects, including coal gas, coal methanol, dimethyl ether, olefins and so on, and then extended to Pom, engineering plastics and other chemical new materials industry chain. With the establishment of the company at the same time, the company also plans to build calcium carbide and power supply base in Qitai County, in the Sino-Thai chemical Fukang Industrial Park to build cogeneration equipment for the Sino-Thai Chemical Industry Park thermoelectric units to provide fuel, but also to protect and improve the people's livelihood related work.