Jiutian plans to expand into the production and sale of synthetic ammonia by tapping on the right to undertake such a project in Henan now held by Anyang Chemical Industry Group, deemed as its controlling shareholder.
Jiutian Chemical Group plans to spend RMB1.6 billion ($296.96 million) in a bid to broaden its product offerings and gain better control over its supply chain.
The Singapore-listed company, based in China's Henan Province, is now in the production of dimethylformamide (DMF) as well as methylamine, sodium hydrosulfate and dimethylacetamide (DMAC).
