Chongqing Jianfeng Announces to Raise Fund to Finance Ongoing Fertilizer Project
   
Chongqing Jianfeng Chemical Co., Ltd. (Chongqing Jianfeng, SZ: 000950) announced on February 3rd the company plans to issue non-public shares for raising fund of up to RMB1.2 billion. The fund raised will be used to finance Chongqing Jianfeng's ongoing 450 thousand t/a synthetic ammonia and 800 thousand t/a urea integrated project.
   The integrated fertilizer plant, located in Baitao town, Fuling of Chongqing, introduces USA Kellogg Brown & Root (KBR)'s and the Netherlands Stamicarbon's advanced technologies to manufacture ammonia and urea using natural gas as feedstock. Construction on the project was started in the first quarter of 2007, roughly 35% of which is completed as of the end of 2008. The RMB3 billion plant is scheduled for startup at the end of 2009. 70% of fertilizers to be produced are to meet needs in areas in the middle and lower reaches of Yangtze River via waterway.
   The company hopes strengthen its core business - fertilizers upon completion of the integrated fertilizer plant, and to increase its profit-making ability.
   Chongqing Jianfeng, formed under Jianfeng Chemicals Complex, has currently a capacity of 300 thousand tons of synthetic ammonia and 520 thousand tons of urea per year. (CCR2007 No.9)