YONFER plans to invest 1.15 billion yuan to establish a new 1 million tons/year specialized fertilizer project for new crops to complete regional layout

According to the Zhitong Finance APP, YONFER (000902.SZ) announced that the company plans to sign an "Investment Agreement for the Huai Shang District Investment Promotion Project" with the People's Government of Huai Shang District, Bengbu City, to construct a 1 million tons/year specialized fertilizer project for new crops. This includes 400,000 tons/year of tower compound fertilizer, 400,000 tons/year of urea-based compound fertilizer, 150,000 tons/year of soil testing formula BB fertilizer, and 50,000 tons/year of high-end water-soluble fertilizer, along with the construction of warehouses, office buildings, research and testing buildings, etc.

The project is located on the east side of Jinmo Road and the south side of Wubang Road in the Bengbu Huai Shang Chemical Park, covering a total land area of approximately 322 acres, of which about 266 acres are for chemical use. The total investment for the project is 1.15 billion yuan, with an expected fixed asset investment of 980 million yuan. The construction period is approximately 12 months, and the project is expected to start construction before December 31, 2025, and be completed and put into production before December 31, 2026.

It is reported that the implementation of this project will improve the company's layout in the East China region, radiating to markets in Jiangsu, Jiangxi, Zhejiang, Fujian, and other East China areas, completing regional layout and promoting further market share increase, while the product structure will be further optimized and upgraded