Sinochem Group becomes the second shareholder of Salt Lake Group
On July 8, at the 6th China Qinghai Structural Adjustment and Investment Trade Fair, Du Keping, Vice President of China Sinochem Corporation, and An Pingyu, Chairman of Qinghai Salt Lake Industry Group Co., Ltd. (hereinafter referred to as “Salt Lake Groupâ€) signed the “ A cooperation framework agreement on the Sinochem Group's capital increase in the Salt Lake Group. According to the agreement, Sinochem will participate in the capital increase and expansion of the Salt Lake Group and hold approximately 25% of the shares of Salt Lake Group, becoming its second largest shareholder. The first largest shareholder is Qinghai Provincial State-owned Assets Investment Management Co., Ltd.
The funds for the capital increase and expansion of the Salt Lake Group are mainly used for the second phase of the comprehensive utilization of the salt lake in Chaerhan and the construction of three industrial groups including potash salt, magnesium salt, and chlor-alkali. It is understood that the entire salt lake, including sodium chloride, potassium chloride, magnesium chloride, lithium chloride and other reserves accounted for the first in the country, the integrated mining value of more than 12 trillion yuan, the prospect of comprehensive development and utilization is very broad.
Sinochem Group is a state-owned large-scale backbone enterprise directly managed by the State-owned Assets Supervision and Administration Commission of the State Council. It has been listed in Fortune Global 500 for 15 consecutive years. Salt Lake Group is the largest inland salt lake chemical production enterprise in China with unique resources and production advantages.
From the shareholding of Salt Lake Potash Fertilizer two years ago to participate in its share reform, together with the participation of the Salt Lake Group in its capital increase and expansion, Sinochem has invested more than 1.5 billion yuan in Qinghai Salt Lake Resources Development.
The funds for the capital increase and expansion of the Salt Lake Group are mainly used for the second phase of the comprehensive utilization of the salt lake in Chaerhan and the construction of three industrial groups including potash salt, magnesium salt, and chlor-alkali. It is understood that the entire salt lake, including sodium chloride, potassium chloride, magnesium chloride, lithium chloride and other reserves accounted for the first in the country, the integrated mining value of more than 12 trillion yuan, the prospect of comprehensive development and utilization is very broad.
Sinochem Group is a state-owned large-scale backbone enterprise directly managed by the State-owned Assets Supervision and Administration Commission of the State Council. It has been listed in Fortune Global 500 for 15 consecutive years. Salt Lake Group is the largest inland salt lake chemical production enterprise in China with unique resources and production advantages.
From the shareholding of Salt Lake Potash Fertilizer two years ago to participate in its share reform, together with the participation of the Salt Lake Group in its capital increase and expansion, Sinochem has invested more than 1.5 billion yuan in Qinghai Salt Lake Resources Development.
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