Jiangsu ChengXing Phosph-Chemicals (SHA:600078) subsidiary Chengxing Technology signed an investment cooperation agreement with the Jiangyin Lingang Economic Development Zone Management Committee.
The total investment of 1.02 billion yuan for the construction of the Chengxing Shares Jiangyin Lingang Project in Jiangyin Lingang Chemical Park, according to a Thursday filing with the Shanghai bourse.
The project aims to annually produce 140,000 tons of phosphoric acid and 30,000 tons of electronic-grade phosphoric acid, 40,000 tons of phosphates and their derivatives, automotive chemicals and other products.
Construction for the project shall not exceed two years.
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