Air Products in $250 Million China Coal-to-Syngas Venture
September 09 2019 - 12:40PM
Dow Jones News
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 colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 09, 2019 12:25 ET (16:25 GMT)
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