The municipal government of Ningxia's Zhongwei City signed an agreement Tuesday with two group companies from Xinjiang and Shanghai to start a new energy and down-stream processing project in Zhongwei.

The project invovles a total investment of 37.3 billion yuan ($5.8 billion), with estimated annual sales of 45 billion yuan ($7 billion).

It is expected to include a coal logistics distribution center, ultra supercritical air-cooled power units, a liquefied natural gas transport and distribution center, a compressed/liquefied natural gas filling station, a down-stream processing line of coal by-products and a special railway line for the project.