China Daily
Guangdong Zhanhua Group Co, the largest calcium superphosphate producer and sixth-largest diammonium phosphate manufacturer in China, is seeking strategic investors to fund the relocation and expansion of its production facilities.
The Zhanjiang chemical fertilizer manufacturer plans to move to a chemical industrial park on Donghai Island by 2015 next to the giant Sino-Kuwaiti refinery being built, said Chen Geng, chairman and general manager of the company.
The relocation is estimated to cost 3 billion yuan ($489 million), which will be invested in expanding capacity, upgrading technology and raising environmental standards, he said.
The timing for the move was set at a meeting attended by city government officials and Zhanhua executives in April.