Hebang plans to set up a chemical base in Indonesia with $800 million and build projects with 200,000 t/a Glyphosate

Hebang disclosed on the evening of August 29 that the company entered into a Conditional Land Sale and Purchase Agreement with PT BERKAH KAWASAN MANYAR SEJAHTERA (BKMS), the operator and manager of the Java Integrated Industrial and Port Area (hereinafter referred to as "JIIPE") in Surabaya, Indonesia, on August 28. It plans to invest $800 million in the construction of a chemical production base at JIIPE Industrial Park in Surabaya, East Java, Indonesia.

At the same time, the company signed a Term Sheet with PT AKR Corporindo Tbk of Indonesia (hereinafter referred to as "AKR"), an AKR subsidiary holding 60% of BKMS shares, agreeing to establish a joint venture company in JIIPE. Among them, the Company (or any of the Company's affiliates or subsidiaries) holds 90% of the shares, and AKR (or any of its affiliates or subsidiaries) holds 10% of the shares as the investment, construction and operation entity for the project in Indonesia.

AKR, which is listed on the Indonesia Stock Exchange (IDX) and engaged in the integrated trading and distribution of chemical and petroleum products, was established on November 28, 1977 and is located in Jakarta, Indonesia, and is the largest private distributor of petroleum and basic chemicals in Indonesia. BKMS is a 60% owned company of AKR subsidiaries, the operator and manager of the industrial area of Java Integrated Industrial and Port District in Surabaya, Indonesia.　　

According to the announcement of Hebang on August 30, the project plans to invest 800 million US dollars, the plant planning land of 67 hectares, mainly for the production of Sodium carbonate, Ammonium chloride and Glyphosate and other products. Sodium carbonate, commonly known as "soda ash", is a widely used chemical raw material. The project will achieve an annual capacity of 600,000 tons of sodium carbonate after completion; Ammonium chloride is an important agricultural fertilizer, which can provide nitrogen for plant growth and is the most suitable fertilizer for palm trees. The project will achieve an annual production capacity of 600,000 tons of Ammonium chloride after completion. Glyphosate is the most widely used and produced herbicide in the world, and the project will achieve an annual capacity of 200,000 tons of Glyphosate.

Hebang said that the company actively participates in the construction of the "Belt and Road", makes full use of the geographical advantages of JIIPE in Surabaya, Indonesia and Indonesia's resource advantages, and builds factories through overseas investment to expand existing markets and enhance the international influence of products. The implementation of this project is conducive to the realization of the company's "focus, professionalism, excellence, stronger" high-quality development strategic goals, enhance the core competitiveness of the enterprise, sustainable competitiveness, in line with the company's long-term development plan and the interests of all shareholders, is conducive to the company's sustainable development.

As a listed company integrating chemical, photovoltaic and mineral products, Hebang has leading technology, talents and operational experience in the domestic and foreign markets of the above products. The company's existing soda ash products rank firmly in the leading sales area, and it is also the world's largest supplier of PMIDA. JIIPE Industrial Development Park is located in a special economic zone authorized by the Indonesian government and is the first integrated industrial park in Indonesia with a deep water port. Indonesia is an important country along the "Belt and Road" and an important trading partner of China. The company actively participates in the construction of "The Belt and Road", makes full use of the geographical advantages of JIIPE in Surabaya, Indonesia and Indonesia's resource advantages, and builds factories through overseas investment to expand the existing market and enhance the international influence of products.

Hebang through overseas investment to build factories, make full use of resource advantages, expand the existing market, enhance the international impact of products. In the next step, the company will fully promote the application of relevant approvals, strengthen the docking and landing of the project, actively seek the market and pursue efficiency, so that the construction results can benefit both China and India