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According to the agreement, Sinochem Group invested a total of RMB 16 billion in the Ningdong Base across Yinchuan City and Wuzhong City and will complete a project to produce 2 million tons of synthetic ammonia and 3.2 million tons of urea in two phases. After the project is completed, it will become one of the largest nitrogen fertilizer producers in the world. Sinochem Group will also form three major production bases in the northwest, north, and northeast based on the existing nitrogen fertilizer production bases in northeast and north China, and the industrial layout will be further improved. The nitrogen fertilizer production scale will reach 5.4 million tons/year, and will enter the world's largest nitrogen fertilizer. The ranks of production companies.
Relying on the abundant resources such as coal, water and land in the Ningdong region, and using advanced coal gasification technologies, Sinochem’s industry-leading production management capabilities will be utilized. The cost competitiveness of the Ningdong project's urea products will enter the top 10% of the domestic industry. This will play a positive role in reducing the price of urea products, safeguarding agricultural fertilizers and protecting the interests of farmers.
Although China's nitrogen fertilizer production capacity can fully meet domestic demand, due to irrational industrial structure, small and medium-sized production enterprises account for the majority, and the overall market competitiveness is not strong. The state encourages enterprises with the advantages of resources and technology to replace backward production capacity in a way of “big pressureâ€. The Sinochem Group's coal chemical project is in line with the national industrial policy direction. The construction of the project will help promote the adjustment of the nitrogen fertilizer industry structure and industrial upgrading.
Liu Deshu, president of Sinochem Group, stated that during the construction and operation of the project, it will effectively fulfill its corporate social responsibility, do a good job of greening the deserted land and wasteland, and protect the environment. At the same time, it will provide economic development for Ningxia in terms of labor, employment and project contracting. provide support.
Wang Zhengwei, chairman of the Ningxia Hui Autonomous Region Government, said that Sinochem’s participation in the development and construction of the Ningdong Base will effectively promote the rapid and healthy development of the Ningdong Base and achieve a new leap forward. The government of the Autonomous Region promised to provide priority support and preferential policies in the areas of coal resources, water resources, land use, and electricity needed for Ningdong project construction.
Sinochem Corporation and the People's Government of Ningxia Hui Autonomous Region signed a strategic cooperation framework agreement for the largest nitrogen fertilizer production base in Beijing. The two sides will invest in the construction of 2 million tons of synthetic ammonia and 3.2 million tons of urea in the Ningdong Energy and Chemical Base on the principle of complementary advantages and common development.