Kaishan Group: Wholly-owned subsidiary invests in the construction of a project in Kenya for the annual production of 480,000 tons of green fertilizer and a supporting geothermal power station

Kaishan Group announced that its wholly-owned subsidiary Kaishan Terra Green Ammonia Limited plans to invest in the construction of a project for the annual production of 480,000 tons of green fertilizer and a supporting geothermal power station. The total investment for the project is expected to be 5.996 billion yuan, with construction investment amounting to 5.865 billion yuan and interest during the construction period of 131 million yuan. The construction period for the project is 24 months from the effective date of the Steam Supply Agreement and the issuance of the full commencement order, with an expected annual operating income of 220 million to 250 million US dollars. The project has been approved by the Strategic Committee of the 6th Board of Directors of the company at its first meeting in 2025 and the 12th meeting of the 6th Board of Directors, and it still needs to be submitted for shareholder meeting approval