On August 2, 2006, the International Finance Corporation signed a deal with Xinao Group to buy shares worth US$10 million in the company, in addition to providing a US$135 million loan facility for a petrochemical project. The loan facility and equity investment will be used for the design, construction and operation of the project producing about 400,000 tons of DME each year, which will result in the world's largest plant producing liquid fuel from coal. DME is a new kind of clean and renewable energy attracting worldwide attention recently. Xinao Group is the largest private sector energy company in China. Llinks advised Xinao Group on this landmark deal.
August 2, 2006
