03 July 2012 10:03 [Source: ICIS news]
The formal construction of the two plants - being built with an investment of yuan (CNY) 2.67bn ($421m) in Yinchuan city of Ningxia province - started on 28 June, the statement said.
All the paper work and approvals needed for the construction have been completed while water and electricity supply is ready as well, the statement added.
Total fertilizer capacity of Ningxia Petrochemical will reach 3m tonnes/year after the completion of two plants while Ningxia will become an important base for fertilizer production in China.
($1= CNY 6.35)
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