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“Escape” Coal Chemical Industry
Coal Chemical Industry has entered a unprecedented crisis, and some companies are willing to flee. Since the beginning of this year, China Electric Power (market, questioning), Datang Group, and CNOOC have been withdrawing from the coal chemical industry. Even with strong financial resources and governance experience, they cannot lead the huge projects to the right path. Sugar baby
After leaving, few people took over the deal, and the items sold were difficult to implement, and it is difficult to move forward. The coal chemical industry may face a more powerful escape tide.
At this moment, I chose to join the traditional power generation company of Sugar daddy Co., Ltd. (simply “Da Tang”), the key word for this year is “coal chemical industry”. Half a month ago, Datang announced that it would reorganize its coal chemical boards, finding a new leader in the company’s coal chemical industry that has been operating for several years – China New Holdings, which has unlimited responsibility for the company’s unlimited coal chemical industry, with the prospects of the National Stock Commission. It can be seen from the Sugar baby agreement that this time, Datang has launched almost all coal chemical projects of its Datang Power Chemical Co., Ltd., and there are many of the first exemplary projects in China. For example, the three projects of Toron coal-to-polypropylene in Inner Mongolia, the Keqi coal-to-natural gas project with an annual output of 4 billion cubic meters of natural gas, and the three projects of 4 billion cubic meters of natural gas are also considered as the “national tyrant” of the Tang coal chemical board.
A mid-level company engaged in coal business in Datang Company said to new financial journalists,=”https://philippines-sugar.net/”>Sugar daddy In 2005, the Tang Dynasty began to lay out its coal chemical industry. At that time, it was in the golden period of coal. The coal price rose rapidly and the power generation was decent. In order to offset the main business risks, Tang Dynasty took the initiative to focus on the coal chemical industry that was popular in the industry, and also regarded it as the key target of the company’s diversified business development. “If you win, you should make a lot of money. Unexpectedly, it turned out to be a chicken rib project, dragging down the company’s performance.” According to data, Datang has made considerable investment in coal chemical industry, and as of the end of 2013, it has accumulated investment of Sugar baby to 58.4 billion. The long-term investment has not brought any expected returns. For example, the Toron Coal Chemical Project with a total investment of 16 billion yuan has exposed a financial black hole of overspending billion yuan after a nine-year promulgation period. Zhang Ming, general manager of Datang Power Chemical Company, said in the article “Reflection after the setback of chemical investment in Datang Coal”: “Coal chemical industry is not a well-known field in Datang, and it has not been as sluggish as electricity in the process of development.”
But Datang is just a escape from coal chemical industry. A member of the manila army. Another major power industry, China Electric Power Development Co., Ltd. (simply called “China Electric”), also chose to flee. On April 14 this year, China Electric Power held a temporary shareholders’ meeting and passed the coal chemical shareholder transfer case with a 100% shareholding rate.
In the case, the holding subsidiary of China Electric Power Initiative (market, questioning) Electric Power Chemical Group Co., Ltd. (simplified as “Initiative”), which holds 45% of the shares of China Electric Power Sinopec (market, questioning) Ningxia Electric Power Chemical Co., Ltd. (simplified as Escort manila“Ninghua”)Sugar daddy‘s rights are transferred to China Petrochemical Changcheng Power Chemical Co., Ltd. After the transfer, China International Capital Corporation only holds 5% of Ninghua’s shares through Initiative,On the other hand, we have joined the coal chemical industry field.
“Around 2009, the China Electric Power Group provided 6 coal chemical projects in the process of obtaining coal resources, including chlorine, coal-based multi-industry, coal-to-ene, fertilizers and SNG projects. Later, due to the erosion, these projects may be redirected or stopped and are gradually joining the coal chemical industry.” Zhao Limei, the Ministry of Coal and Chemical Industry of China Electric Power, said.
Potential escape tide
In the investment structure of coal chemical industry, the power industry is not light. Judging from the total capacity of domestic coal-to-emission projects, the power industry’s investment capacity is 32 billion cubic meters per year, accounting for 14%. However, from the perspective of the industry, the power industry may be a major escape tide for coal chemical industry.
The China Electric Coal Chemical Industry Development Transportation Conference held in Beijing in March this year is more like a teaching and learning conference. All seven domestic power generation groups involved in coal chemical industry participated. In addition to Datang and Guoquan, other company representatives also complained about being confused from the industry.
Hualeng Group has the largest power generation in the country, but the progress of coal chemical industry is relatively slow. Liu Yu, deputy director of the Economic Operations Office of the China Energy Group Coal Department, introduced at the conference that Hua Energy began to participate in coal chemical industry from the IGCC power generation project with coal chemical industry in 2004, but was invited by a friend at the last moment. In 2012, Song Wei turned his head and saw the towel coming from the other party. He took it and said thank you. Since its operation, gasoline furnaces have been unstable due to the impact of coal quality, and projects have appeared. Since then, I realized that it is not easy to do coal chemical industry. When I started to learn from the guidance, the group company has been working on the technical certificate of a coal-to-gas project in Xinjiang for more than four years, but I still dare not start. “We are relatively cautious in developing coal chemical industry.” What is different from other power companies is that the Hua Electric Group href=”https://philippines-sugar.net/”>Sugar daddy is passed into the coal chemical industry, that is, in the process of obtaining coal resources, it is “been chemical industry” according to the request of the local authorities to convert coal on the spot.
“Recently, the leadership team of Hua ElectricPinay escort is reflecting on how to do it, and it has been working for many years.” Dong Shuli, deputy director of the Economic Operations Office of the Ministry of Coal, said that the Hua Electric Group has begun to compare the intensity of coal chemical industry. In 2010, it planned to decide four coal chemical projects, including coal-to-emission and coal-to-ethylene glycol, and in 2011, it built a natural gas methanol project and a 600,000 tons of coal-to-methanol project in Yulin, Xixi. However, the projects that have been built and invested have been largely damaged. In fact, the power industry is developing in her dreams. She is a small supporting role in the book. Sugar daddy sat on the far right of the stage and suffered from technology, talent, and governance difficulties. Most of the completed projects have shown uncertainty and uncertainty in their operations. daddy has only lost serious problems such as serious projects and serious projects. Li Bin, secretary of the China Power Development Promotion Association, said: “Power enterprises should be realistic and realistic, but they can’t do it. Joining is also Sugar Baby‘s choice.”
“The investment amount of coal chemical projects is larger, the return cycle is longer, and the profitability is not stable. Enterprises are more involved in this field, focusing more on industry policies and preferential policies of the authorities. After the investment tide declines, the long-term enterprises will definitely leave the coal chemical industry with large scale operations and turn to the traditional dynamic field with stable returns. href=”https://philippines-sugar.net/”>Sugar daddy project.” China Investment Consultant’s Dynamic Industry Research and Development Researcher Wan Xuezhi told the new financial reporter.
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