29-09-2013

Wison Engineering contract for Erdos Jinchengtai coal-to-methanol project

Wison Engineering Services Co. Ltd, announced today that Wison Engineering Ltd., an indirect non-wholly owned subsidiary of the Group, has been awarded a contract for the engineering of Erdos Jinchengtai Coal-to-methanol Project (Phase II) for Erdos Jinchengtai Chemical Co., Ltd.

Wison Engineering will partner with Erdos Jinchengtai Chemical Co., Ltd. for the second time at the Jinchengtai Coal-to-methanol Project ("the Project"), which marks an important milestone for Erdos Jinchengtai Chemical Co., Ltd. to achieve its strategic transformation into a coal-to-chemical business. Prior to this engagement, Wison Engineering undertook the basic design, detailed design and project management for all production facilities, utilities and ancillary facilities of the production plant while acting as a general contractor for the Jinchengtai Coal-to-methanol Project (Phase I). At the end of December 2012, the Company successfully completed delivery of Phase I, which commenced production of up-to-standard methanol products in May 2013. The smooth operation of Phase I demonstrates Wison Engineering's capabilities in project engineering for coal-to-chemical projects, project management and operational services. Pursuant to the contract, the engineering of the Project (Phase II) will be completed in the third quarter of 2014.

Mr. Liu Haijun, Senior Vice President and Executive Director of Wison Engineering, said, "The acquisition of the project reflects the project owner's recognition of and trust in Wison Engineering which will further drive the business diversification of the company. We endeavour to bring our integrated capabilities in the coal-to-chemical sector into full play while ensuring quality delivery."