Shenhua Group to invest over 400 bln yuan in next decade in oil and chemical facilities

12-Jun-09
China's biggest coal producer-Shenhua Group, plans to invest over 400 billion yuan over the next decade in facilities to convert coal to oil, methanol and gas, targeting capacity to convert 100 mln tons of coal to about 30 mln tons of oil and chemical products by 2020. China, the world's largest coal producer and consumer, began encouraging coal-to-oil projects to help ease its dependence on imported crude oil- a few years ago. Last year, it suspended all but two coal-to-oil projects because of high investment risk.
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