Foran & SPD Bank Lend Thorough Support to Local Ceramics Coal-to-Gas Switch
On July 27, Guangdong’s Foshan City held a launch ceremony together with Foran Energy, SPD Bank and 24 local ceramics companies to release the policy on thorough supporting ceramics coal-to-gas switch in the leading ceramics production center of China.
Foran Energy, the franchised city gas company of Foshan City, announced to green light multiple feasible and operable measures to optimize the coal-to-gas switch in the practice level and user level, including to reduce the piped gas price and reduce the fuel cost, to provide 4 billion RMB loans with SPD Bank to ceramics companies for the green switch, to provide matched tech and financial support to the piping connection and furnace upgrade, to share or newly build LNG satellite stations with ceramics companies, to secure the natural gas supply and newly build supply guarantee facilities, to collaborate with ceramics companies on the capital level, and to establish a coal-to-gas special force to provide thorough support and service before and after the switch.
The practice promotion policy has been discussed by the local participants for a while, including the previous LNG road delivery prohibition within the city gas grid, and the new policy aiming to actually reduce the ceramics companies’ burden and cost pressure, is much welcomed. During the ceremony, 9 ceramics companies signed cooperation framework agreements with Foran and SPD Bank, and 13 signed natural gas cooperation agreements with Foran.
