Arab Today, arab today chinaasean fund invests 50 mln usd in laos potash plant
Last Updated : GMT 04:33:45
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China-ASEAN fund invests 50 mln USD in Laos potash plant

Arab Today, arab today

Arab Today, arab today China-ASEAN fund invests 50 mln USD in Laos potash plant

Beijing - Xinhua

The China-ASEAN Fund on Investment Cooperation has invested 50 million U.S. dollars to aid in the development of a potash salt ore mine in Laos, the fund operator said Friday. The fund has bought a stake in Asian Potash Corp. Ltd., the Chinese investor in the Laos potash salt ore mine in Khammouane Province in Laos, the operator said in a press release. The project, which is expected to be Asia\'s biggest potash fertilizer producer with an annual production capacity of 3 million tonnes, has a total investment of 8 billion yuan (1.25 billion U.S. dollars). Its first-phase facility is expected to be operational early next year with an annual production capacity of 500,000 tonnes. In 2009, China set up the 10 billion U.S. dollar China-ASEAN Fund on Investment Cooperation to support infrastructure development in the China-ASEAN region and to enhance trade and economic ties.

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