Announcements from HangYang recently revealed that the company has approved investments in two new gas projects in Guiyang city of Guizhou province and Fuyang in Hangzhou city, Zhejiang province.
Hangyang and Hangzhou Best Gas Co. Ltd. will establish a joint venture in Fuyang of Hangzhou city to provide oxygen, nitrogen and argon gases to Zhejiang Heding Copper Co.Ltd with a new set of air separation plant of 17,500 m3/h.
The total investment is estimated at RMB 160m of which the equipment cost is RMB 121m, gasworld China understands.
The plant is scheduled to put into commercial operation by 15th July 2012. The registered capital of the joint venture is proposed to be RMB 60m and Hangyang will have 90% of the shares.
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