China spending 80 billion yuan in coal chemical programs
China's total investment in coal chemical programs under construction reached over 80 billion yuan (10.1 billion US dollars), the National Development and Reform Commission (NDRC) said Monday.
Due to price hikes in the international oil market, the coal chemical industry has been growing rapidly with the demand for fuel products.
The programs under construction would raise annual production capacity by 8.5 million tons of methanol, 900,000 tons of olefin and 1.24 million tons of coal-liquefied oil, said NDRC.
Total annual production would rise to 34 million tons of methanol, three million tons of olefin and three million tons of coal-liquefied oil.
The coal chemical industry also produces coke, calcium carbide and coal-developed fertilizers.
Last year, China's production of coke reached 232.83 million tons, calcium carbide 8.95 million tons and coal-developed fertilizers 25 million tons, all the highest in the world.
The NDRC issued a circular in July to stop ratification or registration of coal chemical programs to prevent possible over-production.