Air Products, an industrial gases company, has announced that it has completed the buyback of two air separation units (ASUs) from Shanxi Jinmei Huayu Coal Chemical Co. Ltd. (Jinmei Huayu), a subsidiary of China's coal mining conglomerate Shanxi Jincheng Anthracite Coal Mining Group. Under a long-term supply agreement, Air Products has also started supplying oxygen, nitrogen, and other industrial gases via pipeline to Jinmei Huayu's major coal-to-clean fuels project in Jincheng City, Shanxi Province, China.
Air Products' latest asset buyback and long-term gas supply for Jinmei Huayu mark a milestone in Air Products' gasification strategy and continued support for the development of China's clean energy industry.
Air Products supplied two ASUs (with a total capacity of over 4000 tpd) for Jinmei Huayu's Phase One energy project in Jincheng, which uses coal to produce 1 million t of clean fuels annually. The two companies then actively explored further cooperation opportunities and later signed an agreement for Air Products to buy back the two ASUs for approximately US$100 million and provide Jinmei Huayu with long-term, safe and reliable industrial gas supply.
Air Products’ latest project follows the company's major investment with Lu'An in Changzhi, Shanxi Province.
Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/29072019/air-products-buys-back-air-separation-units-and-supplies-industrial-gases-to-shanxi-jinmei-huayu-in-china/