Project of transforming coal into oil (naphtha) is the key point for the development of Chinese energy industry With an investment of CNY 150 millions, we and Xinjiang Guanghui Energy Group established Xinjiang Technological Chemical Co., Ltd. in 2008. On the basis of annual production value reaching CNY 10 millions and taking the advantages of Xinjiang on coal resource, Xinjiang Technological Chemical Co., Ltd. develops cycle economy and tries our best to develop coal chemical industry. Xinjiang Technological Chemical Co., Ltd. will be capable of producing 120,000 tons of coal tar, medium oil, naphtha and crude phenol in 2010; we will adopt the latest hydrogenation technology to produce gasoline and diesel products in 2011, the annual outputs will reach 100,000 tons.
In terms of projects, products and scales, Hongye is going to experience leading development in next years. Under the leadship of General manager Zhu Xinming, Hongye certainly enjoys a brilliant future!