China Datang Corporation Signs Agreement to Develop Projects in Northern Shaanxi Province

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Researched by Industrial Info Resources (Sugar Land, Texas)--The China Datang Corporation (Beijing) and Shaanxi Province signed an agreement on March 16, 2008, to build coal, power and chemical projects at the energy and chemical base in northern Shaanxi, including a $2.25 billion methanol-to-propylene (MTP) project, using Shaanxi's resources.

China Datang, one of the top five nationwide power producers in China, has been actively engaged in power development, especially in hydropower development in the Hanjiang River Valley, Shaanxi Gov. Yuan Chunqing said. Shaanxi is rich in mineral resources, especially in the energy-enriched northern region. As the state pushes for the development and utilization of energy resources in Ordos Basin, the energy and chemical base in northern Shaanxi will open up more opportunities for development, Yuan Chunqing said.

With support from Shaanxi's government, China Datang will accelerate the development of coal, power and chemical projects, China Datang President Di Ruoyu said. The company currently has 12 subsidiaries with a total installed capacity of nearly 5,000 megawatts in Shaanxi province. Shaanxi is an important province in the company's strategic layout. China Datang plans to further consolidate its leading position in the coal-chemical sector through the construction of the projects. In addition, the coal-chemical sector is also another profit point for power enterprises under the current situation of rising coal prices and the regulation of the price of electricity.

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