Hongli Clean Energy Technologies Corp. (CETC), a vertically integrated producer of clean energy products located in Henan Province, has discontinued its coking business by terminating the coke producing agreement with Pingdingshan Hongfengxuanmei Coking and Chemical Company on 20 November 2015.
The coke inventory will be used for producing syngas.
The company has been producing metallurgical coke since 2002, and is a key supplier to regional steel producers in central China. It also produces and supplies thermal coal to its customers in central China.
The management has measured the risk and expected the coke demand to carry on declining due to the soft steel industry in China.
In the meanwhile, CETC will be more laser-focused on developing, manufacturing and commercialising its clean tech energy products by leveraging its existing technologies and infrastructure.
The company’s first clean tech product, ‘syngas’ has gained its market reputation with its price sustained at RMB 0.67 per m3 while natural gas price reduced to RMB 0.7 per m3.
Hongli Clean Energy Technologies currently owns its assets and conducts its operations through its subsidiaries, Top Favour Ltd and Pingdingshan Hongyuan Energy Science and Technology Development Co. Ltd, and its affiliated companies, Henan Province Pingdingshan Hongli Coal & Coke Co. Ltd, Baofeng Coking Factory, Baofeng Hongchang Coal Co. Ltd, Baofeng Hongguang Environment Protection Electricity Generating Co. Ltd, Zhonghong Energy Investment Company, Henan Hongyuan Coal Seam Gas Engineering Technology Co. Ltd, Baofeng Shuangri Coal Mining Co. Ltd, and Baofeng Xingsheng Coal Mining Co. Ltd.
Edited from press release by Harleigh Hobbs
Read the article online at: https://www.worldcoal.com/power/25112015/hongli-discontinuing-coke-producing-agreement-with-pingdingshan-hongfengxuanmei-3203/