300 000 T/A Coal Tar Project Starts up

On December 11th, 2006 the 300 000 t/a coal tar deep-processing
project of Shandong JFE Zhenxing Chemicals Co., Ltd. put on
stream in Weifang, Shangdong province of eastern China. Shandong
JFE Zhenxing Chemicals Co., Ltd. is a joint venture (JV) funded
by JFE of Japan and Weifang Zhenxing Coking & Chemicals Co., Ltd.,
a subsidiary of Shandong Haihua Group Co., Ltd., holding 60% and
40% equity respectively.
   With a total investment of around RMB400 million and the world
advanced technologies, construction of the project was started
in October 2005. (CCR2005, No. 29) The chemical products include
light oil, dephenolized oil, crude phenol, industrial
naphthalene and modified asphalt. After completion, the project
will help the JV increase its sales revenue and the profit and
tax by RMB600 million and RMB150 million a year respectively.