Songzi new materials, Songzi Yihua combined to build refined phosphoric acid project

On January 12, Hubei Yihua announced that its holding subsidiary, Hubei Yihua Songzi Fertilizer Industry Co.
, Ltd.
(hereinafter referred to as Songzi Yihua), signed a cooperation agreement
with Songzi Stanley Yihua New Material Technology Co.
, Ltd.
(hereinafter referred to as Songzi New Materials) for a 100,000-ton/year refined phosphoric acid project.

The agreement stipulates that Songzi Yihua will invest in the construction of a 100,000 tons/year refined phosphoric acid project in the cooperation project of Songzi New Material Factory - new energy material precursor iron phosphate and supporting projects, with an estimated total investment of no more than 500 million yuan
.
The project construction period is 15 months
.
After the project is completed and put into operation, the refined phosphoric acid products produced can be used for the production of downstream phosphate and iron phosphate, a precursor of new energy materials, which is conducive to improving the scale of refined phosphoric acid production and extending the phosphorus chemical industry chain
.

It is reported that Songzi New Materials is the main investor of the cooperation project, which is jointly invested by Songzi Yihua and Stanley Chemical Fertilizer Songzi Co.
, Ltd.
, of which the former holds 35% of the shares and the latter holds 65% of the shares
.
Songzi Yihua invested in the construction of refined phosphoric acid project within the cooperative project, and the wet phosphoric acid required was supplied by the semi-aque-dihydrate phosphoric acid plant, which is conducive to revitalizing idle assets and efficient use of the cooperative project land
.
The steam produced by the joint project is supplied to the refined phosphoric acid project nearby, which is conducive to improving the economic benefits
of both parties.