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Heilongjiang province’s Shuangyashan city government said Tuesday it had signed a US$5.61 billion (RMB38.5 billion) agreement with clean energy enterprise Hanergy Group to build a hi-tech coal-to-methanol clean coal plant, the Shanghai Securities News reported. The first US$946.76 million (RMB6.5 billion) phase of the plant is expected to take 36 months to complete and will have capacity to produce 1.2 million tons of methanol, which can be used as a substitute for gasoline. The second phase, which will cost US$4.66 billion (RMB32 billion), will increase capacity to 7.2 million tons of methanol. Shangyashan, in the far northeast of China, is rich in water and coal resources. Shandong Luneng Group, a conglomerate principally engaged in coal, real estate, and port operating businesses, has also been linked to the project.

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