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Migao Group Redirects Funds to Boost Growth
MIGAO GROUP: SUPPLEMENTAL ANNOUNCEMENT IN RELATION TOTHE ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024
Hong Kong stock concept tracking | Russian and Belarusian producers coordinate to cut potassium fertilizer production by 10%, potassium fertilizer companies may benefit from price fluctuations (with concept stocks)
Belarusian President proposed Belarusian potash company to coordinate with Russian producers to reduce potash production by 10%.
Sinolink: Potash fertilizer supply is expected to be jointly controlled, and resource prices are expected to provide support.
Only 11 companies have a potassium chloride production capacity exceeding 2 million tons, mainly concentrated in Canada nutrien, Belarus Belaruskali, Russia Uralkali, and the usa Mosaic, with a combined production capacity accounting for 67.26% of the industry, high industry concentration.
Migao Group (09879.HK) terminates cooperation on potassium fertilizer production facilities in sichuan and plans to invest over 0.2 billion RMB to build production facilities in Vietnam.
The Mi Gao Group (09879.HK) announced that it reached an agreement with the Sichuan government institutions on this Monday (21st) to terminate the cooperation agreement to build a potassium fertilizer production facility in Mianyang City, Sichuan Province, and signed the termination agreement on the same day. The group stated that it will no longer implement the original plan for the new Sichuan production facility and will need to reassess the feasibility and site for building a new potassium fertilizer production facility. In addition, the Mi Gao Group plans to establish a production facility in Phu My, Ba Ria-Vung Tau Province, Vietnam, with a construction area of approximately 63,510 square meters, mainly producing potassium sulfate and nitrogen-potassium compound fertilizers, one production line, with a designed annual production capacity of approximately 0.08 million tons of potassium sulfate and about 0.1 million tons of nitrogen.
Migao Group Expands Into Vietnam Amidst Sichuan Setback
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