What to do with China's abundant stock of coal? Chemical giant Hengli plans to make clothes out of it.
SINGAPORE - What to do with China’s abundant stock of coal? Chemical giant Hengli plans to make clothes out of it.
June when it said it was getting into mining with a $20 billion project to convert coal into polyester yarn, used in clothes, packaging and plastic bottles. The shift into coal, a major source of smog and climate-warming greenhouse gases, is at odds with a global push to reduce reliance on fossil fuels and will exact a heavy environmental price, according to industry analysts.
Hengli, as a Chinese company and one of the world’s largest polyester yarn producers, also stands a better chance of getting regulatory approvals for its plan, according to analysts.
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