April 23, 2024

Utilize provincial funds and technology to develop Shanxi's competitive local industry

Recently, Shanxi Tianhao Chemical Co., Ltd. formally laid the foundation for the first-phase project of 300,000 tons of methanol invested by Shandong Yankuang Group. This is not the first Shanxi coal chemical company to 'borrow Dongfeng'. Earlier, the Shanxi Large-scale Coal Industry Group, such as the Shanxi Lanhua Coal Industry Group and the Shanxi Jincheng Anthracite Mining Group, entered into strategic cooperation agreements with other famous chemical companies in other provinces, introducing funds and introducing technologies to implement joint operations. The reporter learned from the relevant information that many companies in Shanxi have introduced enthusiasm for the introduction of funds, technology, and talent to 'borrow Dongfeng'. There are many projects to be implemented, such as Shandong Yankuang Group’s investment of 4.2 billion yuan in Xiaoyi City, Shanxi Province. Annual output of 300,000 tons of methanol and 900,000 tons of coal mine projects, Shandong Luneng Group's investment projects in Shanxi estuary, etc. In the coal-producing province of Shanxi, it is becoming a hot topic for chemical companies to develop the coal chemical industry through the advantages of funds and technology from other provinces.
Shanxi Lanhua Coal Industry Group is a large-scale enterprise integrating coal, chemical industry, and bio-pharmaceuticals. Its economic strength ranks in the forefront of 34 dominant enterprises in Shanxi Province, with total assets of 2.5 billion yuan. In recent years, Orchid Group adheres to the road of technological entrepreneurship and is committed to the transformation of 'chemical coal' to 'coal chemical' and 'resources' to 'resources + high-tech'. This year, Orchid Group and Shandong Jiutai Chemical Co., Ltd., which owns proprietary intellectual property rights of dimethyl ether, signed a cooperation agreement to jointly invest in the construction of an annual output of 1.5 million tons of methanol and 1 million tons of dimethyl ether. After the project is put into operation, it can convert 2.5 million tons of coal each year, creating a profit of more than 1 billion yuan. This is another major step taken by Jincheng, following the conversion of coal, coal to electricity, and coal to gas, using foreign technology to achieve industrial upgrading.
The Jincheng Anthracite Mining Group has attracted a lot of attention in alliance with several large chemical companies in Shandong within one year. The Group is one of the 520 key enterprises in the country and one of 10 key enterprises in Shanxi Province, and it is also the largest anthracite production base in the country. The group has established a medium- and long-term development strategic plan for the comprehensive development of coal, gas, electricity, and chemical industries and the construction of environmentally-friendly green mines, and gradually promotes coal-based industries, with coal-gas, coal-electricity, and coal-based Big leading industry. This year, the Group signed an agreement with Shandong Mingshui Chemical Co., Ltd., which produces products such as urea and ammonium bicarbonate, and annual sales revenue of 1 billion yuan, and introduced the company's technology and established Shandong Mingshui Dahua Group. Subsequently, they received a 38% stake in Shandong Union Chemicals Co., Ltd. held by Shandong Union Chemicals Group and became the largest shareholder of Shandong Alliance shares. In addition, Jincheng Coal Mining Group also invested 40 billion yuan with Shandong Luneng Group and Shanxi Hexin Electric Power Development Co., Ltd. to build Jindongnan Coal and Electricity Base in Jincheng, Shanxi Province. The base project includes an annual output of 40 million tons of coal mines with a total capacity of over 11,000 megawatts. Power stations and coal chemical projects such as chemical fertilizers and methanol.
So far, the funds introduced by Shanxi enterprises are mainly to make full use of the province's coke oven gas resources, low-quality coal resources and coalbed methane resources, vigorously develop the methanol industry, and promote the development of methanol deep processing projects. Yu Youjun, acting governor of Shanxi Province, said at the 2005 Shanxi Investment and Trade Fair held in the near future that Shanxi Province will have coal chemical, coal bed methane and coke with high technological content, financial advantages, and the ability to combine local resources. Investors in the development and utilization of furnace gas, fine chemicals, coal-based synthetic oil, etc. provide preferential policies and support measures. When talking about the local advantages in Shanxi, one entrepreneur from Shandong was like a few: Shanxi has a simple and honest folkway, resource advantages, abundant coal reserves, abundant energy, and low labor costs...
According to estimates, during the “11th Five-Year Plan” period, Shanxi's methanol and deep processing industries will invest 24.1 billion yuan, with an annual new production capacity of 7.64 million tons, an additional sales revenue of 19.2 billion yuan, and a profit tax of 6.3 billion yuan. Among them, the investment introduced by 'Dongfeng' will reach 9.6 billion yuan, with an annual new methanol production capacity of 3.05 million tons, an annual new sales revenue of 7.9 billion yuan, and a profit tax of 2.52 billion yuan.

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