According to Hangjin, on April 25, Beijing Haohua signed a contract for a 600,000-ton coal-to-olefins project to settle in Erdos Hangzhou Hanjin Banner.
It is reported that the People's Government of Ordos City, Hangjinqi People's Government and Beijing Haohua Energy Co., Ltd. have signed a cooperation framework agreement for an annual output of 600,000 tons of coal-to-olefins projects, with a total investment of about 16 billion yuan. It is expected that the annual coal conversion amount after the completion of the project will reach 3.76 million tons, with an average annual sales income of 5.83 billion yuan, annual tax revenue of 370 million yuan.
At present, pre-project issues such as site selection and planning of the project are in progress. The project will be completed by 2018. The construction will start in March 2019. It is expected to be completed and put into operation in 2022.