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China XLX Fertilizer invests RMB 2.7-bln to increase outputs

May. 28, 2012 (China Knowledge) - China XLX Fertilizer Ltd<1866>, a leading Chinese coal-based urea producer, has said it plans to spend RMB 2.7 billion or US$425.99 million to build its 5th plant for output expansion.

The expansion plans include the acquisition of land use rights in Manas County, Xinjiang Uygur Autonomous Region, construction of new production and office buildings, and the purchase and installation of new equipment and machinery, sources reported.

The entire expansion project is expected to be completed by the end of 2016.

Upon the completion of the project, China XLX Fertilizer's annual urea output capacity will increase from 2.1 to 2.58 million tons, and its compound fertilizer capacity is estimated to be boosted to 900,000 tons from current 750,000 tons.

China XLX Fertilizer has also inked an agreement with Shenzhen-listed Anhui Huilong Agricultural Means of Production Co Ltd<002556> for strategic cooperation.

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