Sinopec Corp (NYSE: SNP, SHA: 600028, HKG: 0386) has signed an agreement with the Jiangsu provincial government to build China's largest refinery capable of processing 32 million tons of oil in the city of Lianyungang.
Qinghai Salt Lake Industry Co (SHE: 000792), China's biggest potash maker, signed a deal with Zhongchuan International Mining Holdings Co to co-develop a three-million-ton potash project in Canada that is estimated to cost $3.2 billion. It was not disclosed how much Qinghai Salt Lake would invest in the project.
Changyuan Group Ltd (SHA: 600525), a manufacturer and distributor of heat shrinkable materials, power grid equipment and circuit protection components, said it plans to issue additional shares to raise ¥775.22 million to replenish capital and purchase a 25% stake in Shenzhen Nanrui Technologies Co, a leading electrical automation company.
China Golden Development Holdings Ltd (HKG: 0162), an operator of department stores and shopping malls in northwestern China, said it paid ¥382 million buying a 29,600m2 complex in Shaanxi provincial capital Xian to operate a department store.
Beijing Orient Landscape Co (SHE: 002310) plans to issue additional shares to raise ¥2.2 billion. Most of the money will fund its new landscaping project, and ¥600 million will be used to replenish capital.
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