Yantai/July 18th, 2018/ A new 35.31 MMSCFD LNG project co-invested by Jereh Group (SZ 002353) and Greatfound Group was launched in Odors, Inner Mongolia. It marked the official start of strategic collaboration between Jereh and Greatfound, as well as Jereh’s extension for natural gas business.

Figure 1: Commencement Ceremony

With the investment of over 50 million dollars, this Odors-based LNG plant is planned to be put into use in November next year after 17 months construction. And Jereh is going to conduct design, procurement as well as construction work.

Leveraging on rich natural gas resources and sufficient financial support, the output is predicated to reach 300,000 tons on an annual basis. Accordingly, the project will realize a revenue of 175 million dollars each year.

Mr. Lu Wei, the Senior Vice President of Jereh Group, believed that this LNG project would be a great opportunity for Jereh and Wanji to form a long-lasting and full-scale partnership.

“Following the principle of equality, we shall strive for mutual benefits, and achieve more development and success in the future.” Mr. Lu said.

Figure 2: Commencement Ceremon

Ample with natural resources, Odors is a place where numerous enterprises have been founded and hence logistics business is well developed. As a result, there is a huge demand for natural gas to fuel vehicles.

Once the project is completed, it will significantly promote natural gas business in this region such as gas-fueled vehicles, natural gas storage & peak-shaving and industrial coal-to-gas, and boost local economic development as well as environmental protection on the long run.