China NDRC nods RMB 7.8bln coal-bed methane external cooperation projects in Shanxi -- The National Development and Reform Commission (NDRC) recently approved three coal-bed methane external cooperation projects in north China’s Shanxi province with total investment amounting to 7.79 billion yuan. Specifically, the three projects include coal-bed methane project in Chengzhuang block in Qinshui basin, Liulin coal-bed methane project at the east edge of the Ordos basin and coal-bed methane project in Mabi block of Qinshui Basin, with investment being at 590 million yuan, 2.56 billion yuan and 4.64 billion yuan, respectively.
PetroChina-invested Phase I LNG Canada Project enters implementation phase -- The phase I of LNG Canada Project invested by PetroChina (PTR.NYSE) is about to enter implementation phase following the final investment decision approved recently, according to China National Petroleum Corporation (CNPC), parent company of PetroChina. The project is carried out by a joint venture formed by PetroChina, Royal Dutch Shell (RDSA), Japanese Mitsubishi Company (MIT), Korea Gas Corporation (KOGAS), and Petroliam Nasional Berhad (PETRONAS), and is expected to be put into operation in 2024.The project is designed to build four production lines with an annual LNG production capacity of 28 million tonnes. Phase I project is planned to have two production lines with an annual output of 14 million tonnes of LNG.
Riverside intercity rail kicks off construction in Jiangsu -- Construction commencement ceremony for Jiangsu southern riverside intercity railway project was held on Oct. 8 in Jintan district, Changzhou city of east China’s Jiangsu Province. With a design speed of 350 kilometers per hour, the intercity railway starts from the Nanjing South station, a link of Beijing-Shanghai high-speed railway line, goes southeastward to parallel the Beijing-Shanghai and Nanjing-Hangzhou lines, and extends to the northeast along the south bank of the Yangtze River with an end destination at Taicang station of Shanghai-Nantong railway line that is currently under construction. The intercity rail project will involve construction of 278.53-kilometer railway line and eight stations which is scheduled to be completed in four years.
Chinese, Ukrainian firms launch construction of solar plant in Ukraine -- China Machinery Engineering Corporation (CMEC) and Ukraine's largest private energy holding Donbas Fuel and Energy Company (DTEK) officially started the construction of a solar power plant in Ukraine on Oct. 4. The groundbreaking ceremony for the construction of the project took place near Nikopol city in central Dnipropetrovsk region. Totally, 750,000 photovoltaic (PV) solar panels produced by Seraphim Solar System and another Chinese company Trina Solar will be set up on the 400-hectare solar farm. The estimated cost of the solar station is 230 million euro (about 265 million U.S. dollars). The project is funded by the DTEK's own funds and by a loan from the CMEC. It is scheduled to be completed at the beginning of next year.
1st unit of Ecuador Minas hydropower project built by Chinese firm connected to grid -- The first unit of Ecuador Minas 3X90MW hydropower project built by Harbin Electric International Co., Ltd. (HEI) was successfully connected to the grid and started generating electricity, the company announced on Sept. 28. HEI is a branch of Harbin Electric Corporation (HE), the earliest-established power generation equipment manufacturing company in China. The Minas project is HE's first hydropower project in South American market. It is reported that HEI team in Ecuador is ready for a 72-hour trial operation of the unit, and is preparing for power generating of two other units of the hydropower plant.
China's Greater Bay Area to establish a Sino-Russian financial center -- A Sino-Russian financial center will be established in China's Guangdong-Hong Kong-Macao Greater Bay Area. The project was initiated jointly by Savings Bank of the Russian Federation (Sberbank of Russia), Guangzhou Economic and Technological Development Zone and Beijing Xinnuo Investment Co., Ltd on Sept. 27.The total investment of the project is 5 billion yuan (730 million U.S. dollars approximately), and half of which will be used for the construction. The center is designed to satisfy diverse needs with multiple financial services. Upon completion, it is predicted to facilitate the financial integration of Central Asia, West Asia, Europe, Russia, Mongolia and other countries.
Zhejiang Seaport, DP World to build Belt and Road Dubai station -- Zhejiang Seaport Investment and Operation Group and the DP World, a Dubai-based ports operator, have recently held the launching ceremony of the Belt & Road Dubai station in Dubai's Jebel Ali Free Zone to seek practical cooperation in logistics, economic and trade fields. The Belt & Road Dubai station will take advantage of the United Arab Emirates (UAE)'s position as a key country for the Belt & Road construction, and bring into play Zhejiang Province's advantages in foreign trade and Dubai's location advantage as a hub of global trade to promote trade and investment growth between China and the UAE and its neighboring countries and regions, according to Zhejiang Seaport.
Chinese company to serve as EPC of land reclamation project in Strait of Malacca -- China Wu Yi Co., Ltd (000797.SZ) and its wholly-owned subsidiary signed a framework agreement with Malaysian company SWT International Sdn Bhd (SWT) on Oct. 9 on jointly building a land reclamation project in a Malaysian city. According to a filing to the stock exchange, SWT plans to build a strait city project in Malacca City, Malaysia. In this project, China Wu Yi Co., Ltd will carry out the land reclamation in the form of EPC, and its wholly-owned subsidiary will provide consulting and financing support in this process. The contract value of this project is expected to reach 180 million U.S. dollars.
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