World Bank invests in gas project (China)?

(China Daily, Aug 6, 2006) Xinao Group, China's leading private gas company, has secured a US$145 million investment from International Finance Corp to bankroll its US$300 million coal-to-dimethyl ether project.

IFC, the private lending arm of the World Bank, will loan US$135 million to the project and buy a US$10 million stake in it, Langfang, Hebei Province-based Xinao said in a statement posted on its Website yesterday.

The loan could be increased if needed, the statement said.

The project, situated in Ordos in the Inner Mongolia Autonomous Region, will be capable of producing 400,000 tons of dimethyl ether a year, or enough fuel for 2 million households, when it is completed in 2008 or 2009.

source:
http://www.zoomchina.com.cn/index.php?/c...

6 years of Republican crisis and failure, and people think communist China is a better investment than the United States.

Are you surprised?

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