Two major central state-owned enterprises join hands in Xiong'an: Sinochem and China Coal sign cooperation agreements in coal, chemical fertilizers, and chemicals.

On June 2, the signing ceremony of a strategic cooperation agreement between Sinochem Holdings Corporation Limited and China Coal Energy Group Co., Ltd. was held in the Xiong'an New Area, Hebei Province. The two central enterprises in the energy and chemical sectors officially ushered in a new stage of comprehensive and in-depth cooperation.

Li Fanrong, Chairman and Party Secretary of Sinochem Holdings, and Wang Shudong, Party Secretary and Chairman of China Coal, attended the ceremony and jointly witnessed the signing of the agreement. Chen Chengmin, Vice President and Party Member of Sinochem Holdings, and Ni Jiayu, Member of the Standing Committee of the Party Committee and Vice President of China Coal, signed the agreement on behalf of their respective parties.

The agreement follows the cooperation principles of complementary advantages, mutual benefit, sincere cooperation, a focus on practical results, and common development. It stipulates that, based on both parties' resource endowments and industrial layout advantages, they will seize opportunities to launch multi-level and wide-ranging pragmatic cooperation projects, working together to create a benchmark example of synergistic cooperation in central enterprise industrial chains.

According to the disclosed cooperation content, the next step in the partnership will focus on precisely implementing cooperation in three core areas:

First, coal supply security, leveraging China Coal's coal resource advantages to consolidate the foundation for raw material supply for Sinochem's fertilizer and chemical sectors, and stabilizing the upstream energy and raw material supply chain;

Second, fertilizer business synergy, carrying out industrial chain linkage centered on modern agricultural fertilizer production, raw material supporting facilities, and market operations, to assist in stabilizing and guaranteeing domestic grain production;

Third, chemical business expansion, relying on coal deep processing and fine chemical technology resources to extend the coal-based new materials and green chemical industrial chains, and accelerating industrial green upgrading and transformation. With industrial synergy as the starting point and safeguarding national energy security as the main line, the two parties aim to facilitate the green and low-carbon transformation of the entire industrial chain, serving the high-quality development of the domestic economy and society with the combined strength of central enterprises' real industries.

Relevant functional department heads from Sinochem Holdings' headquarters, as well as heads of subsidiaries such as Sinochem Fertilizer and Sinochem Environment, and relevant functional department heads and business unit heads from China Coal's headquarters attended the signing ceremony as observers.