Air Products Signs Contract With Jiutai For Syngas BOO Project In China

(RTTNews) - Air Products (APD) Monday said it has been awarded a long-term onsite contract to supply syngas to Jiutai New Material Co. Ltd for the mono-ethylene glycol project in Hohhot, China.

The build, own and operate or BOO project for air separation, gasification, and gas clean up processing facility is expected to come onstream in the fourth quarter of fiscal year 2021. The new contract is projected to add over $0.20 to its earnings per share by 2022.

Air Products will invest about $650 million to the BOO project and will receive a fixed monthly fee under the long-term contract. Jiutai will supply the coal feedstock and take all output from the plant.

Earlier this year, Air Products has acquired Shell's coal gasification technology and patents.