Sasol to invest in China
(Xinhua)
Updated: 2006-10-26 15:44
South African petrochemicals giant Sasol Ltd will invest in two liquefied
coal projects in China by cooperating with Chinese enterprises, according to the
Sasol general manager.
The two projects, one in Yulin city of West China's
Shaanxi Province and one in northwestern Ningxia Hui Autonomous region, will
each produce 3.6 million tons of petroleum a year, said Andre De Ruyter.
Sasol signed an agreement on feasibility research into the two projects
this June with Shen Hua Group Corporation Limited, China's largest coal
producer.
According to De Ruyter, Sasol will hold a 50-percent stake in
each project. The total investment in the two projects will be 10 billion to 14
billion U.S. dollars and construction could begin in 2013.
Some local
enterprises or partners in the marketing or refining sector may also invest in
the two projects, he said.
De Ruyter said that Sasol has further
expansion plans in China but he refused to disclose the details.
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