On the 28th, China Coal Energy Yili Coal & Electricity Co., Ltd. started an annual production of 600,000 tons of coal-to-olefins projects. This is the first coal-to-olefins project that has been prepared in Xinjiang. It is also the first large-scale coal chemical project planned and constructed by China Coal Group in Yili.
The project is located in the Yi'nan Industrial Park, Xibo Autonomous County, Chabqal, Xinjiang, with a total investment of 21.134 billion yuan, and an annual output of 300,000 tons of polyethylene and polypropylene and other by-products. The annual coal consumption of the project is 5.1 million tons. After the project is put into production, the annual sales revenue is about 6.947 billion yuan, the annual average profit is 2.725 billion yuan, and the paid-in income tax is 680 million yuan.
According to Ji Xilai, vice chairman and secretary of the Party Committee of China Coal Energy Corporation, the investment and construction plan of China Coal Energy Group in Xinjiang will be completed at the end of the “Twelfth Five-Year Planâ€, and the Tuha Coal Sinotrans and Coal Power Base and Zhundong Coal will be initially established. Electrochemical bases, Yili coal chemical industry base, and coal processing equipment bases around Urumqi have a coal design and production capacity of more than 40 million tons.
It is understood that China Coal Energy Group is the second largest coal producer in China. The main business includes coal production and trade, coal chemical industry, pit power generation, coal mine construction, coal machine manufacturing, coal bed methane development and related engineering and technical services. Chemicals and coal-based alcohol ethers, olefin chemicals, coal-based manufacturing and other fields are among the leading countries in the country. As of the end of last year, the total assets of China Coal Energy Group reached 172.6 billion yuan.
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