(27 April 2026 – Hong Kong) CIMC Enric Holdings Limited together with its subsidiaries (“CIMC Enric” or the “Group”) is pleased to announce that CIMC Enric has recently entered into an intended cooperation agreement with Pangang Group Xichang Steel and Vanadium Co., Ltd. (“Pangang Xichang”), a wholly-owned subsidiary of Pangang Group Co., Ltd., in relation to a “steel–coke” integration project, and the parties are about to reach cooperation on such project. This will represent the sixth steel–coke integration project deployed by the Group.
Pangang Xichang is located in the Liangshan High-tech Park, Xichang City, Liangshan Yi Autonomous Prefecture, Sichuan Province, and is principally engaged in the production of high-end steel materials and the comprehensive utilisation of vanadium and titanium resources. It is a key backbone enterprise in the national Panxi vanadium-titanium strategic resource innovation and development pilot zone. Upon the launch of the CIMC Enric steel-coke integration project, it will have an annual production capacity of 100,000 tonnes of blue LNG and 16 million cubic metres of blue hydrogen. In addition, the project plans, for the first time, to be equipped with a high-purity liquid hydrogen facility with a daily production capacity of 5 tonnes.
Following the implementation of project in Xichang City, it is expected to drive upstream and downstream application scenarios including LNG, hydrogen production, storage, transportation, refuelling and end-use applications, thereby supporting the establishment of a full industrial chain covering “production–storage–transportation–refuelling–application”, and promoting the transformation of the regional industry from “resource dependence” to “green technology-driven development”. At present, CIMC Enric Holdings Limited’s two steel–coke integration cooperation projects in Liaoning Province have both achieved stable operations, with profitability realised in the first year of operation, and have established a benchmark for end-to-end hydrogen energy closed-loop applications in the steel industry; and have also successfully realised the first full conversion pathway of coke oven gas (100%) in China.
In March 2026, the Ministry of Industry and Information Technology and other authorities issued the Notice on Pilot Comprehensive Application of Hydrogen Energy. Driven by supportive policies, hydrogen energy is transitioning from “single-point demonstration in the transportation sector” to “deep integration with green economic transformation”. Leveraging the steel–coke integration model, CIMC Enric has established a presence in Yingkou and Chaoyang in Liaoning Province, as well as Liupanshui in Guizhou Province. The project in Xichang City, Sichuan Province is about to be launched, forming a “nationwide network-based” business layout with expansion into overseas markets. This model not only enables traditional steel enterprises to achieve carbon emission reduction and value enhancement but also provides regions with a stable and cost-effective hydrogen supply. In the future, it is expected to supply liquid hydrogen required for aerospace fuel to the Xichang Satellite Launch Center.
CIMC Enric will continue to collaborate with steel plant customers to support regional energy transition through a distributed green energy network, and jointly promote China’s green energy industry towards scaled, commercialised and high-quality development.
