ChemChina mulls 200,000 t/y Sichuan ferts unit

22 May 2008 09:16  [Source: ICIS news]

SHANGHAI (ICIS news)--State-owned China National Chemical Corp (ChemChina) is mulling a 200,000 tonne/year phosphamidon fertilizer project at the site of its subsidiary Qingping Phosphate Mine at Mianzhu in Sichuan province, it said on Thursday.

"We are considering the construction plan, said an official from ChemChina but declined to provide further details.

"During the earthquake, our subsidiaries in Sichuan and Gansu provinces were affected badly," he added.

"The latest figure on direct economic loss was yuan (CNY)608.705m ($87m) while indirect loss was CNY579.816m," the official said, adding that the more than 40 of its employees had died in the recent quake, while another 450 were injured.

Besides ChemChina, the earthquake had impacted four other state-owned companies –Dongfang Electric Corp (DEC), Sinohydro Corp, State Grid and China Railway Construction Corp.

State-owned companies were estimated to have incurred losses amounting to over CNY30bn in the recent earthquake, Li Rongrong head of the state-owned Assets Supervision and Administration Commission (SASAC) said on Wednesday.

The official death toll stood at above 41,000 on Wednesday while the eventual numbers were expected to exceed 50,000. It caused CNY67bn worth of damage to 14,207 industrial enterprises.

($1=CNY6.96)

To discuss the effect of the Chinese earthquake visit the forum on ICIS connect

By: Judith Wang
+65 6780 4359

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly