IFC SIGNS US$50 MILLION CLEAN COAL DEAL WITH CHINA
August 1st, 2006
BY KEITH NUTHALL
THE INTERNATIONAL Finance Corporation (IFC) of the World Bank is pumping US$50 million into a Chinese plant converting coal into dimethyl ether (DME), a liquid fuel significantly cleaner than its hard fuel source. It is investing US$10 million into China's Xinao Group, while lending it US$40 million, to set up petrochemical plants using cheap coal from Inner Mongolia. The aim is to produce 600,000 tons of methanol annually from coal, converting that into 400,000 tons of DME. An IFC note said it was "pleased to be able to support Xinao, a ...
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