China Drying Network Donghua Engineering & Technology Co., Ltd.'s board of directors disclosed on August 2 that the company's joint indirect controlling shareholder China National Chemical Engineering Co., Ltd. and the Belarusian Gomel Chemical Plant JSC, in Anhui Hefei signed a general contract for the NPK ferroalloy compound fertilizer project with an annual capacity of 600,000 tons in Belarus. The total contract price is 99 million US dollars (equivalent to approximately 605 million yuan).
Since China Chemical itself does not carry out specific production and business operations, Donghua Technology is responsible for the design of the project, procurement of equipment, construction and installation, and organization of feeding trials. It is understood that Gomeli Chemical Plant is a large-scale chemical fertilizer production company affiliated to the Belarusian National Petroleum and Chemical Industry and is also the only producer of phosphate and compound fertilizer in Belarus. In order to meet the demand of the domestic chemical fertilizer market in Belarus, the Gomeli Chemical Plant plans to build a 600,000-ton NPK fertilizer plant. The construction funds for this project will be the owner’s own funds, and the rest will be provided by the Export-Import Bank of China. Financing, the owner provides Belarusian government sovereignty guarantee.
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