(MENAFN) In a huge country rich in coal but lacks oil, it made sense to invest in clean coal-to-oil replacement technology, and that's exactly what China did to guarantee its energy's security in the long term.
A USD2.5 billion coal-to-liquid project with an estimated yearly output of over one million tons has been put into operation in northwest China's Shaanxi Province, according to local authorities.
It's set to produce 1.15 million tons of oil using 5 million tons of raw coal per year, and expects to see an annual sales volume of USD1.1 billion, thus a yearly net income of USD250 million.
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