Robert G. Polce, CEO of AIVN, stated: "The intent of this joint venture is to develop coal-to-liquids plants using coal reserves located on the joint venture coal concessions. The first phase of this development will consist of one coal-to-liquid plant that consumes 2000 t of coal per day producing 8000 bbls of synthetic crude oil per day. Then we will develop what is referred to as a ‘SET’, which ultimately includes four coal-to-liquid plants and one refinery to process the synthetic crude oil produced into the desired products. Each of the four plants will process 2000 t of coal per day, with a total of 8000 t coal input per day. Total synthetic crude oil production will be 32 000 bpd, with plant production life of 30 years.”
The total project development cost will be US$1.2 billion, with an average cost of US$300 million per coal-to-liquids plant.
