Nafine Chemical to Construct Sodium Sulfate Project    

Global largest sodium sulfate maker Nafine Chemical Industry Group Co., Ltd. (SZ: 000737) announced on December 13th that its holding subsidiary Jiangsu Nafine Chemical Company Limited plans to construct a 300 000 t/a sodium sulfate and 300 000 t/a salt project in Hongze county of Jiangsu province, aiming to expand its share in sodium sulfate market. It is subject to the board of directors.
    Jiangsu Nafine Chemical Company Limited, built in 1998, was jointly invested by Nafine Chemical Industry Group Co., Ltd. and Hongze Yinzhu Chemical Group Co., Ltd. at a equity split of 60 : 40. The company projected the investment will be around RMB274 million.
   Nafine Chemical Industry Group Co., Ltd. said it can manage the risk of shrink demand for sodium sulfate. The industrial salt, co-produced with sodium sulfate, will be sold to the largest salt distributor. The retired Glauber mineral wells can be reused to supply raw materials for the project.    
   Nafine Chemical Industry Group Co., Ltd. owns China's largest Glauber salt lake. Hongze Yinzhu Chemical Group Co., Ltd. engages in the production of synthetic ammonia, sodium nitrate, sodium nitrite, sodium sulfate (1 million t/a) and aniline derivatives.