On November 29th, Shanxi Huarui Coal Chemical Co., Ltd., a joint venture established by foreign companies, domestic fertilizer manufacturers, and distribution companies, invested 700 million yuan to build an annual output of 180,000 tons of synthetic ammonia and 300,000 tons of urea project in Yuncheng City, Xinyi Coalification. The industrial zone started, of which foreign investment accounted for 34% of the total investment in the project. It is the first time for foreign investors to invest in large-scale fertilizer construction.
Shanxi Huarui Coal Chemicals Co., Ltd. consists of Shanxi Fengxi Fertilizer Industry (Group) Co., Ltd., Swiss Russo Co., Ltd. and four circulation enterprises from four provinces in China. Heilongjiang Beifeng Agricultural Production Group Co., Ltd., Anhui Huilongong Capital Group Co., Ltd., Yantai Agriculture Information Corporation, and Shaanxi Huiyou Agricultural Materials Co., Ltd. jointly created. The joint venture has fully integrated the advantages of all parties: Fengxi Group is the largest synthetic ammonia and nitrogen fertilizer production enterprise in Shanxi Province, with chemical fertilizer production and technological advantages; Swiss Lace Company's operations in fertilizers, metals, etc. are spread throughout Europe, America and Asia. A total of 3 billion US dollars, with obvious capital and management advantages; 4 agricultural distribution companies have a sound sales network of agricultural resources and good operating performance, constitute a market advantage; Shanxi coal resources are rich, with resources, raw material advantages.
It is understood that the participation of foreign capital in the construction of domestic fertilizer projects is the first time in China. The investors are full of confidence in the project of producing 180,000 tons of synthetic ammonia and 300,000 tons of urea each year. The first is because it has taken a circular economy—recovering coke oven gas from coking companies in Xinyi Coal Chemical Industry Zone as raw materials to produce high value-added chemical products. This not only makes full use of energy, but also improves the environment. Turning waste into treasure has prolonged the coal industry chain and created benefits. Therefore, it has also received the support from the governments of all levels in Shanxi Province, Yuncheng City and Xinyi County and related departments, and is expected to become a landmark project for the development of coal chemical industry in Shanxi. In addition, the project uses mature, advanced oxygen-enriched methane conversion, carbon dioxide stripping urea synthesis and other process technologies, superior product quality, low production costs; all localized devices, investment province, maintenance costs are low.
It is reported that the project will be completed and put into operation in March 2007, when the annual sales income will reach 500 million yuan, and the total annual profit and tax will be 200 million yuan. At the meeting, the Fengxi Group also proposed to reach an annual output of 2 million tons of urea by 2007 and reach an annual sales income of RMB 6 billion by 2010.
Shanxi Huarui Coal Chemicals Co., Ltd. consists of Shanxi Fengxi Fertilizer Industry (Group) Co., Ltd., Swiss Russo Co., Ltd. and four circulation enterprises from four provinces in China. Heilongjiang Beifeng Agricultural Production Group Co., Ltd., Anhui Huilongong Capital Group Co., Ltd., Yantai Agriculture Information Corporation, and Shaanxi Huiyou Agricultural Materials Co., Ltd. jointly created. The joint venture has fully integrated the advantages of all parties: Fengxi Group is the largest synthetic ammonia and nitrogen fertilizer production enterprise in Shanxi Province, with chemical fertilizer production and technological advantages; Swiss Lace Company's operations in fertilizers, metals, etc. are spread throughout Europe, America and Asia. A total of 3 billion US dollars, with obvious capital and management advantages; 4 agricultural distribution companies have a sound sales network of agricultural resources and good operating performance, constitute a market advantage; Shanxi coal resources are rich, with resources, raw material advantages.
It is understood that the participation of foreign capital in the construction of domestic fertilizer projects is the first time in China. The investors are full of confidence in the project of producing 180,000 tons of synthetic ammonia and 300,000 tons of urea each year. The first is because it has taken a circular economy—recovering coke oven gas from coking companies in Xinyi Coal Chemical Industry Zone as raw materials to produce high value-added chemical products. This not only makes full use of energy, but also improves the environment. Turning waste into treasure has prolonged the coal industry chain and created benefits. Therefore, it has also received the support from the governments of all levels in Shanxi Province, Yuncheng City and Xinyi County and related departments, and is expected to become a landmark project for the development of coal chemical industry in Shanxi. In addition, the project uses mature, advanced oxygen-enriched methane conversion, carbon dioxide stripping urea synthesis and other process technologies, superior product quality, low production costs; all localized devices, investment province, maintenance costs are low.
It is reported that the project will be completed and put into operation in March 2007, when the annual sales income will reach 500 million yuan, and the total annual profit and tax will be 200 million yuan. At the meeting, the Fengxi Group also proposed to reach an annual output of 2 million tons of urea by 2007 and reach an annual sales income of RMB 6 billion by 2010.
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