China Oceanwide Holdings Group Launches Coal Chemical Project     

On October 1st, 2007, the coal chemical project funded by China Oceanwide Holdings Group with an investment of RMB22.8 billion has been started construction in Tumoteyou, Baotou, Inner Mongolia.     
   The project is one of the major promotion projects in Baotou in 2007 and located in Shangejia Chemical Project Industry Park, Tumoteyou, Baotou. It is planned to have a total investment of RMB22.8 billion and occupy an area of around 680 hectares.
   The project will be executed in phases. The first phase of the project has a production capacity of 1.8 million t/a methanol. After the completion of the first phase, the sales revenue will reach more than RMB7.2 billion a year (source from www.xinhuanet.com).