Hanfeng Evergreen, based in Toronto, Canada, has formed a 50-50 joint venture with Anhui Linquan Industrial Chemical Co., Ltd. at the end of last year. The partnership aims to establish a sulfur-coated urea production facility in Fuyang, China. This collaboration marks an important step for Hanfeng Evergreen as it expands its presence in the Chinese agricultural market.
In the first phase of the project, a 50,000 tons per year sulfur-coated urea plant will be built with an investment of approximately US$66 million. Both companies will equally contribute capital to the venture. Anhui Linquan will provide the necessary urea feedstock, while Hanfeng Evergreen will bring in its technical expertise and market knowledge. The final product will primarily be distributed within Anhui Province, one of China's largest agricultural regions.
Anhui's strong agricultural demand makes it an ideal location for this plant. Sulfur-coated urea is known for its slow-release properties, which enhance soil fertility and improve crop yields. With increasing focus on sustainable farming practices, the demand for such fertilizers is expected to grow significantly in the coming years. This joint venture not only strengthens the companies' market positions but also supports the region's agricultural development.
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