Huahua Chemical invests in melamine

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Huaqiang Chemical Invests in Melamine Production; Release Date: 2009-02-18. On February 16, Hubei Huaqiang Chemical Investment officially approved a project for melamine production with an investment of 450 million yuan. At the same time, more than 10 other new projects were also approved and commenced, including a soda ash and ammonium chloride project costing 1 billion yuan, a new building materials project costing 40 million yuan, a fertilizer upgrading project costing 50 million yuan, and a rolling reform project for Sanxia New Materials. These are a series of investments made following the establishment of a strategic partnership between Hubei Huahua Chemical Group and Jinsihua Fertilizer Co., Ltd. of Shanxi Jincheng Coal Industry Group. 　　On January 16, Hubei Huahua Chemical Group and Jinsihua Fertilizer Co., Ltd. of Shanxi Jincheng Coal Industry Group signed an agreement in Dangyang City to establish a strategic partnership, joining forces to create another major fertilizer and chemical enterprise in our city. 　　Hubei Huahua Chemical Group ranks among the top 30 in its industry nationwide in terms of overall strength. It produces 800,000 tons of urea, 600,000 tons of ammonia alcohol, 150,000 tons of methanol, and 150,000 tons of dimethyl ether each year. With total assets of 1.6 billion yuan, the group achieved sales revenue of 1.6 billion yuan in 2008, with profits and taxes amounting to 150 million yuan. 　　After 50 years of development, Shanxi Jincheng Coal Industry Group has become a modern energy powerhouse with international competitiveness. It ranked 149th on the list of China’s top 500 enterprises in 2008. It possesses important production bases for high-quality anthracite in China, and its total business turnover last year was 45.5 billion yuan, with profits of 4.5 billion yuan. The Jinsihua Fertilizer Group, which it controls, has grown through a process of rapid expansion and has become a large-scale fertilizer and chemical enterprise; it also serves as an important platform for Jinmei Group to carry out cross-regional investments and form partnerships. 　　The signing of this strategic partnership for joint investment and cooperation will enable comprehensive collaboration in areas such as talent, technology, culture, and information, thereby resolving the issue of securing high-quality coal at competitive prices that has plagued Huahua Chemical Engineering. The sharing of resources and complementary strengths between the two parties will mark the beginning of joint development and prosperity for both companies. Their cooperation will also have a positive and profound impact on the industrial economic development of Dangyang.