Israel Chemicals To Invest $452M In Chinese Phosphate Project

December 17, 2015 | Israel Chemicals is set to invest $452 million for 50 percent ownership in a joint venture that will operate a phosphate business in China. In addition, Israel Chemicals will assume a 15 percent strategic Yunnan Yuntianhua, one of the leading producers of phosphate rock in Asia, traded on the Shanghai Stock Exchange at a market cap of $1.8 billion. As part of the joint venture, a mine will be constructed that produces 2.5 million tons of phosphate rock annually for the next 30 years in order to primarily serve Chinese and Asian markets. The strategic alliance with Yunnan Yuntianhua will also include a joint research and development platform in the Yunnan province to develop new products and process improvement. Israel Chemicals is headquartered in Tel Aviv Israel and is a multinational manufacturer of fertilizers, metals and other special chemical products.