Air Products in $250 Million China Coal-to-Syngas Venture

Date : 09/09/2019 @ 4:40PM
Source : Dow Jones News
Stock : Air Products and Chemicals Inc (APD)
Quote : 237.19  0.19 (0.08%) @ 7:21PM

Air Products in $250 Million China Coal-to-Syngas Venture

Air Products and Chemicals (NYSE:APD)
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By Colin Kellaher


Air Products & Chemicals Inc. (APD) on Monday said it formed a joint venture with Debang Xinghua Technology Co. that will invest about $250 million to build, own and operate a coal-to-syngas processing facility in Jiangsu Province, China.

Air Products said it will own 80% of the venture, which will own and operate the air-separation unit, gasification and purification assets under a 20-year contract for a fixed monthly fee, supplying syngas to support Debang Group's chemicals facilities.

Debang Xinghua, a unit of China's Jiangsu Debang Chemical Industrial Group Co., will own the remaining 20%.

Air Products, an Allentown, Pa., industrial gases company, said it expects the project will be onstream in 2023.


Write to Colin Kellaher at


(END) Dow Jones Newswires

September 09, 2019 12:25 ET (16:25 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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