Feb. 1, 2010 (China Knowledge) - China National Complete Plant Import and Export Corp Ltd<000151> announced on Jan. 29 that it was invited by Mag Industries Corp from Canada to form a joint venture potash fertilizer plant in Congo.

The US$1.2-billion plant will have an annual production capacity of 1.2 million tons.

Pursuant to the agreement between the two companies, the Chinese company will be in charge of the design, purchasing and construction work. It will also finance the new plant.

Analysts have said this new plant will provide the country with enough potash fertilizer. In 2008, the domestic potash fertilizer output was only 300,000 tons, so another 600,000 tons were imported from other countries.

Reportedly, Mag Industries, founded in 1997, has mining rights in a 136-sq km potassium mine in Congo through a subsidiary.

Feb. 1, 2010 (China Knowledge) - China National Complete Plant Import and Export Corp Ltd<000151> announced on Jan. 29 that it was invited by Mag Industries Corp from Canada to form a joint venture potash fertilizer plant in Congo.

The US$1.2-billion plant will have an annual production capacity of 1.2 million tons.

Pursuant to the agreement between the two companies, the Chinese company will be in charge of the design, purchasing and construction work. It will also finance the new plant.

Analysts have said this new plant will provide the country with enough potash fertilizer. In 2008, the domestic potash fertilizer output was only 300,000 tons, so another 600,000 tons were imported from other countries.

Reportedly, Mag Industries, founded in 1997, has mining rights in a 136-sq km potassium mine in Congo through a subsidiary.

Feb. 1, 2010 (China Knowledge) - China National Complete Plant Import and Export Corp Ltd<000151> announced on Jan. 29 that it was invited by Mag Industries Corp from Canada to form a joint venture potash fertilizer plant in Congo.

The US$1.2-billion plant will have an annual production capacity of 1.2 million tons.

Pursuant to the agreement between the two companies, the Chinese company will be in charge of the design, purchasing and construction work. It will also finance the new plant.

Analysts have said this new plant will provide the country with enough potash fertilizer. In 2008, the domestic potash fertilizer output was only 300,000 tons, so another 600,000 tons were imported from other countries.

Reportedly, Mag Industries, founded in 1997, has mining rights in a 136-sq km potassium mine in Congo through a subsidiary.