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NRA Capital Pte Ltd

Written by: NRA Team

Monday 16 Mar 2015

AsiaPhos Limited - press release

Acquired approval from land authority on land use rights

Building more production facilities

AsiaPhos announced that, effective 28 February 2015, the Mianzhu Land Bureau had given AsiaPhos’s primary subsidiary Mianzhu Norwest approval on land use rights for its Phase 2 program. AsiaPhos intends to construct a 30,000 tonne thermal phosphoric acid plant, a 30,000 tonne sodium triphosphate (STPP) plant and a 20,000 tonne sodium hexametaphosphate (SHMP) plant. Thermal phosphoric acid is obtained by burning p4 in a furnace together with steam and hydrogen peroxide and the plant is just next to its current p4 plant. We believe the group will benefit from better production efficiency when its completed the vertically-integrated to produce downstream phosphate-based chemicals products.

AsiaPhos has already received the planning and building permits issued by the Mianzhu Planning Bureau and the Mianzhu Construction Bureau. As such, the group looks to be on track to develop its upstream chemical production facilities to service industrial and agricultural demand.

We are reviewing our financial figures and fair value for AsiaPhos currently.  

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