A groundbreaking ceremony for constructing the Ordos Modern Coal Chemical Innovation and Technology Pilot Base took place in Uxin Banner of Ordos city on July 8.

The base will receive a total investment of around 450 million yuan ($64.19 million).

The overarching objective that is to be realized entails making substantial headway in the realm of global research through the generation of a plethora of innovative accomplishments, achieving unprecedented breakthroughs in the fundamental technologies that underpin this domain, demonstrating the efficacy of these technologies in not fewer than ten distinct applications, providing support for the technical innovation of at least ten coal chemical enterprises, and fostering the development of several nascent industries and the associated industrial chains that are poised to emerge in the near future.

The transfer of pilot technology results and the provision of related services will yield an annual indirect revenue of around 20 million yuan.

Furthermore, this is set to drive investments of approximately 30 billion yuan in industrial projects, resulting in annual sales revenue of 20 billion yuan, tax revenue of 5 billion yuan, and profits of 4 billion yuan.

During the ceremony, the government of Uxin Banner signed cooperation agreements with China Coal Ordos Energy Chemical Co, China Coal Research Institute, and the Department of Chemical Engineering at Tsinghua University.

The start of the pilot base's construction and the participation of pilot projects signify a crucial step forward for Uxin Banner's efforts in creating an "R&D-pilot-industrialization" innovation model.

Additionally, it marks significant progress in constructing the core area of the Ordos National Modern Coal Chemical Industry Demonstration Base.