Air Products (AP) recently announced that it has recently completed the buyback of two ASUs from Shanxi Jinmei Huayu Coal Chemical (Jinmei Huayu), a subsidiary of China’s coal mining conglomerate Shanxi Jincheng Anthracite Coal Mining Group.

AP has also started supplying since the end of June oxygen, nitrogen and other industrial gases via pipeline under a long-term supply agreement to Jinmei Huayu’s major coal-to-clean fuels project in Jincheng city, Shanxi province, China.

AP supplied two ASUs, a total capacity of over 4,000 tons per day, for Jinmei Huayu’s Phase One energy project in Jincheng, which uses coal to produce one million tons of clean fuels annually.

The companies then actively explored further cooperation opportunities and later signed an agreement for AP to buy back the two ASUs for approximately $100 million and provide Jinmei Huayu with long-term industrial gas supply.