China Blue Chemical Invests $840 Million to Develop Specialized Coal Chemical Projects
China Blue Chemical (Dongfang City, Hainan Province, South China), China’s largest nitrogenous fertilizer producer, has invested $840 million to develop specialized coal chemical projects in central China’s Shanxi Province.
The investment is split into two contracts. One is signed with Jincheng’s municipal government in Shanxi on a $580 million project to produce 600,000 tons of synthetic ammonia and 1 million tons of urea per year.
The second contract was signed with Shanxi Lanhua Coal Company (Jincheng City, Shanxi) with an investment of $260 million to develop the company’s abundant anthracite reserves. Shanxi Lanhua Coal Company has a total asset of $707.8 million of which net asset stands at $351.3 million. The company can now produce 6 million tons of coal and 850,000 ton of urea per year.
China Blue Chemical is a core subsidiary of China’s third largest petroleum company, China National Offshore Oil Corporation (CNOOC). It was founded in April 2006 and its major products are chemical fertilizers and various other chemical products. It aims to become the largest chemical fertilizer manufacturer and most effective resources-processing enterprise in China’s chemical industry.
China Blue Chemical has three large-scale urea-production bases with total annual designed urea production capacity of 1.8 million tons. Its Hainan Fudao Phase I urea-production base has an annual designed capacity of 300,000 ton of ammonia and 520,000 tons of urea. The Phase II urea-production base has an annual designed capacity of 450,000 ton of ammonia and 800,000 tons of urea. Its Inner Mongolia Tianye Chemical urea Plant has an annual designed capacity of 520,000 ton of traditional prill urea and 200,000 tons of methanol.
Methanol is another major product of China Blue Chemical. Apart from the above mentioned production capacity, its Tianye methanol plant has a designed production capacity of 200,000 tons of methanol a year. Its Jiantao methanol plant has a designed production capacity of 600,000 tons a year.
China Blue Chemical also produces complex fertilizers and food-class carbon dioxide at a designed annual capacity of 50,000 tons and 30,000 tons, respectively.
Tags: CNOOC, coal