The project will be carried out in two phases -- the first of which will involve an investment of Yuan 7-8 billion to construct a coal-chemical industrial chain, including coal-to-methanol, methanol-to-alkene conversion, and alkene downstream processing. Production from phase one is scheduled to
begin by the end of 2013.
As for phase two, Legend will spend Yuan 10 billion to expand its methanol and alkene production capacity, and to develop downstream fine chemical and new material industries.
Legend's investment would be in chemicals, especially in the coal-chemical industry, said Liu Chuanzhi, chairman of Legend Holdings, but he did not elaborate on when construction would begin.
Legend Holdings is the parent company of Chinese personal computer maker, the Lenovo Group.
China Chemical Weekly: http://news.chemnet.com/en/detail-1411716.html
