Chan and Chang Group Launches Coal Chemical Project in Guizhou

The coal-gasified substitute fuel project in Guizhou Puxing
coal-power-chemical integrated base funded by Taiwan Chan and
Chang Group (in Chinese phonetic alphabet) was launched in
Xingyi of Guizhou province on May 16th, 2007. The project has
a total capacity of 1.0 million t/a methanol and 250 000 t/a
dimethyl ether.
   Chan and Chang Group has its head office in Pudong District,
Shanghai. It is specialized in real estate investment, financing
and high-tech business. It established a wholly-owned company
called Jingde Energy Chemical Co., Ltd. in the southwest of
Guizhou on May 8th, 2007. The new company has a registered
capital of US$12 million. Chan and Chang Group has therefore
entered the coal chemical business for the first time in history.
   Guizhou is the biggest coal producing region in the southern
China. The southwest of Guizhou is one of the areas with the
richest coal resources in the province. There are also abundant
water and power resources. Jingde Energy Chemical Co., Ltd. has
made an investment of RMB6.2 billion to construct a 300 000 t/a
methanol and 250 000 t/a dimethyl ether project in Guizhou. The
project will be executed in three phases. The first phase has
an investment of RMB750 million and a capacity of 300 000 t/a
methanol.