On Dec 23, 2022, Guangyuan, a city of Southwest China's Sichuan province, signed a strategic cooperation agreement with the Xinjiang Energy Corporation, Shudao Investment Group and Sichuan Bank on the building of a coal allocation and storage center to promote the development of southwestern China.

Guangyuan reaches a strategic cooperation deal with the Xinjiang Energy Corporation, Shudao Investment Group and Sichuan Bank on the building of a coal allocation and storage center at a ceremony on Dec 23, 2022. [Photo by Yan Qiao]

According to the deal, Guangyuan Development Group, Xinjiang North Wing Railway Co., Ltd and Sichuan Shudao Railway Operation & Management Group will register a new joint venture and invest 10 billion yuan ($ 1.45 billion) to build the coal allocation and storage center.

The new center will strive to be listed as a national and provincial key project, win relevant policy support, and forge a capacity building of over 10 tons by 2029.

In addition, Guangyuan and the three other stakeholders will deepen their cooperation on coal & electricity integration, the clean utilization and chemical processing of coal, the processing and distribution of commodities, the construction of an integrated shipping & electricity production hub and an energy transport passage associated with the Guangyuan-Bazhong Railway, and on the development of clean energy to consolidate the cooperation between Sichuan and Xinjiang in the energy sector.