People’s Daily. Shenhua Group’s coal-to-liquid (CTL) project in north China operated profitably in the first quarter of this year, according to a company executive.
Zhang Yuzhuo, general manager of Shenhua Group, said at a forum held in east China’s Anhui Province that the group’s CTL project in Inner Mongolia Autonomous Region produced 216,000 tonnes of refined oil products in the first quarter of this year, which brought more than 100 million yuan (15.38 million U.S. dollars) in profits.
With annual capacity expected to reach one million tonnes, the pilot project operated for 5,000 hours last year and produced 450,000 tonnes of oil products, according to Zhang. Sources with the group had said that Shenhua was considering injecting the assets of the CTL project into China Shenhua Energy Co., the group’s listed arm, after it begins to accumulate profits.