(Yicai Global) Aug. 29 -- Sichuan-based Chengdu Huaqi Houpu Holding Co. [SHE:300471], a natural gas equipment maker, plans to join the shale gas energy utilization project in Chongqing's Yongchuan district, which is set to bring in USD605 million through investments.
The firm signed a strategic cooperation agreement with the Yongchuan government on Aug. 28, it said in a statement.
The shale gas project includes the construction of a shale gas liquefaction plant with daily production capacity of two million cubic meters, an urban energy monitoring platform, ship refueling stations and waste disposal facilities, the statement said. The local government will also offer investment incentives for Huaqi Houpu.
Yongchuan is in the west of Chongqing, one of China's four direct-controlled municipalities. It covers an area of 1,576 square kilometers and has a population of around 1.11 million, the firm added.
Huaqi Houpu is a major supplier of natural gas station equipment in China and holds 74 patents and 33 software copyrights. Its participation in the shale gas project is in line with its clean energy industry development strategy, the company said.