Yichang Xingfa invested 20 billion yuan to launch the construction of the Xingfa Baogu Phosphorus Chemical Industry Park
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On July 9, the Xingfa Baogu Phosphorus Chemical Industry Park officially commenced construction. Invested 20 billion yuan by Yichang Xingfa Group Co., Ltd., this project aims to become the most advanced in terms of manufacturing technology and the largest phosphorus chemical industry complex of its kind in central China. According to the plan, the mining and mineral processing facilities for the new industrial park will be located in Baokang, while the facilities for deep processing and comprehensive utilization will be situated in Gucheng. Once operational, the taxes generated will be paid to the local authorities, which will then be distributed between Baokang and Gucheng in a reasonable proportion. Xiangyang (Baokang) is one of the eight major phosphate mining bases in China. It ranks fourth in the country in terms of both phosphate reserves and grade; its prospective reserves exceed 3 billion tons, with an average grade of 23.6%, placing it among the top regions in terms of the proportion of high-grade ore. As early as 1999, Xingfa Group’s first stop in its expansion efforts was Baokang County in Xiangyang City, where Baokang Chufeng Chemical Co., Ltd. was established in 2004. Subsequently, Xingfa Group invested in building factories in Nanzhang and Gucheng one after another. By the end of 2024, a total investment of 3.22 billion yuan had been made in Xiangyang.
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