Adelaide Advertiser
28 July 2011, Page: 69
SYNTHETIC fuel company Syngas has lined up a second potential Chinese partner, Kailuan Energy, for its coal gasification and biomass projects. The company signed a letter of intent with the Shanghai Stock Exchange-listed company yesterday in Melbourne to negotiate on possible investment options in Syngas or its projects, subject to regulatory approvals.
Syngas' current portfolio of projects, including the Clinton coal-to-liquid project 120km northwest of Adelaide, are covered by the agreement. Syngas has a similar understanding with the China National Electric Engineering Corporation to finalise an engineering, procurement and construction agreement by next March..
"This is a major development for Syngas. We now have the benefits of this relationship with Kailuan, as well as our existing CNEEC relationship", Syngas managing director Merrill Gray said. "We will be working diligently to bring significant value to shareholders through these relationships over the next few months". Kailuan Energy's main businesses are coal mining and coal beneficiation, logistics, machining and coal chemical.
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