Tianfu Thermoelectric Enters Coal Chemical Business      

Xinjiang Tianfu Thermoelectric Co., Ltd. (SH: 600509), a traditional power generation and heat supply company, is now making expedition to the coal chemical sector. The company announced on May 23rd that it plans to input RMB160 million and establish Xinjiang Tianli Energy Co., Ltd. , partnering with Shenzhen Liye Group Co., Ltd. Tianfu Thermoelectric will hold the 40% equity in the new company. The registered capital of the new company will be RMB400 million. The new company will construct a coal chemical production base in the North Industry Park of the State-class Development Zone in Shihezi of Xinjiang, and undertake the production and sales of coal chemical products.
   The silicon carbide crystal project is one of the major high-tech projects defined by the company. The company has got RMB9.55 million from the science and technology support plan of the government for the silicon carbide crystal project. The fund will be used in the process optimization of silicon carbide crystal growing furnaces, the control of integration and the control of semi-insulating silicon carbide crystal product mix, the control of conductive silicon carbide crystal product mix and the instant large-scale silicon carbide crystal processing.