Heihua and Mitsui Signs CDM Contract     

On October 15th, 2007 Heilongjiang Heihua Co., Ltd. (SH: 600179) signed a contract with Mitsui & Co., Ltd. of Japan for a clean development mechanism (CDM) project.
    Heilongjiang Heihua Co., Ltd., a subsidiary of China National Chemical New Materials Corporation, is a leading comprehensive coal chemical enterprise, and major products in the company include coke, urea, methanol and modified asphalt.
    On September 29th, China National Chemical New Materials Corporation signed an agreement with Mitsui & Co., Ltd. of Japan on the cooperation in CDM project in Heilongjiang Heihua Co., Ltd. (CCR 2006, No.30)
    According to the contract, during 2008-2012, Mitsui & Co., Ltd. will buy all the right of nitrous oxide emission reduction from Heihua Co., Ltd. at a price of US$11.5 per ton of carbon dioxide equivalent. The Japanese company will provide Heihua with test instruments and new catalysts at free.