BIZCHINA / Overseas Investment |
SES to build CTL plant in China(Agencies)Updated: 2007-06-08 15:13 US's Synthesis Energy Systems Investments Inc. announced a contract with Golden Concord to build a coal gasification plant in Inner Mongolia, China. The Houston-based energy and technology company is involved in three projects in China, seeking to involve the country in the pursuit for cleaner energy. China and the United States are in similar situations, trying to meet growing demand with as little environmental impact as possible. China already has a goal to meet 10 percent of its domestic fuel needs with coal-to-liquids by 2020. The plant in China will seek to optimize coal reserves to meet China's growing need for clean transportation fuels and chemical feedstock. Synthesis Energy Systems Investments Inc. is a subsidiary of Synthesis Energy Systems Inc., and Inner Mongolia Golden Concord Energy Co. Ltd. is a subsidiary of Golden Concord Holdings Ltd., a private Chinese electricity provider. The joint venture plant will use low value, abundant lignites from coal mines to meet the region's growing need for clean, affordable non-petroleum-based fuels and petrochemical feedstock. "Working together, SES and Golden Concord are demonstrating their commitment to develop cleaner, high-quality fuels, at a lower cost based on the utilization of the U-GAS technology to gasify low quality, high-ash coals to supply China's growing appetite for clean fuels and petrochemicals that fuel economic development," said Tim Vail, president and chief executive officer of SES. (For more biz stories, please visit Industry Updates) |