19 August 2009 05:02 [Source: ICIS news]
GUANGZHOU (ICIS news)--China’s Liuguo Chemical is planning to begin construction of a 280,000 tonne/year synthesis ammonia plant in April 2010 in Tongling, a company source said on Wednesday.
The yuan (CNY)1.9bn ($278m) project, located in the eastern province of Anhui, was expected to come on stream in the second half of 2011, according to the source.
The new facility was expected to provide feedstock for its 1.12m tonne/year phosphorus fertilizer lines, the source added.
To finance the project, Liguo Chemical planned to raise CNY1.2bn through stock issuance to existing shareholders and the balance through bank loans or other channels, the company said in a filing to the Shanghai Stock Exchange on Tuesday.
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