Manufacturing Industry
CNOOC to list its fertilizer business in Hong Kong.(China National Offshore Oil Corp.)(Hong Kong Exchanges and Clearing Limited)(Brief article)
China Chemical Reporter, April, 2006
China National Offshore Oil Corporation (CNOOC) will spin off its chemical fertilizer business to list in Hong Kong Exchanges and Clearing Limited. CNOOC Petrochemical Company Ltd., a urea manufacturing subsidiary of CNOOC, is expected to raise a fund of US$400 million. The subsidiary to be publicly listed has two branches, CNOOC Fudao Company Ltd. and CNOOC Inner Mongolia Tianye Chemical Company Ltd. Fudao, located in Hainan province of southern China, owns two urea production lines with a total capacity of 1.4 million t/a. Tianye that was purchased by CNOOC in 2005 has a methanol capacity of 200 000 t/a and a urea capacity of 520 000 t/a, its production site located in Inner Mongolia, northwestern China.
A source from CNOOC disclosed that CNOOC planned to...
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