Yuanxing Partners with China Coal Energy to Build Coal-based Methanol Project     

On August 23rd, Inner Mongolia Yuanxing Natural Alkali Co., Ltd. (Yuanxing, SZ: 000683) entered into a framework agreement with China Coal Energy Co., Ltd. (SH: 601898) concerning jointly building a 600 000 t/a coal-based methanol project in Erdos of Inner Mongolia region by Mengda New Energy Chemical Base Development Co., Ltd.
   Yuanxing holds a 75% interest in Mengda New Energy and a 60% stake in Inner Mongolia Sulige Natural Gas Chemical Co., Ltd.
   Under the agreement, China Coal Energy will put cash fund for certain stake in Mengda New Energy.