China’s Henan XLX Fertilizer, Sinoagric to establish joint venture

27 March 2012 08:00  [Source: ICIS news]

SINGAPORE (ICIS)--China’s XLX Fertilizer said on Tuesday its wholly-owned subsidiary Henan XLX Fertilizer has signed a 50-year agreement with Sinoagric Chain to establish a joint venture facility at Henan province in central China.

The registered capital for the project is at yuan (CNY) 15m ($2.4m), according to a statement by China XLX Fertilizer to the Hong Kong Stock Exchange.

The companies will jointly invest CNY26.8m to build a 150,000 tonne/year compound fertilizer unit, the statement said.

Henan XLX Fertilizer will hold a 51% share of the project, while Sinoagric will hold a 49% stake, it added. The statement did not specify the timeline to build the plant.

Henan XLX Fertilizer is the largest fertilizer producer in the province and the fourth largest coal-based urea producer in China, while Sinoagric Chain is a key agricultural enterprise in China.

($1 = CNY6.31)


By: Rachel Yang



AddThis Social Bookmark Button

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