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Japan's Cosmo Oil to build fertilizer plants in China, Europe

Cosmo Oil Co. plans to construct liquid fertilizer plants in China's Shaanxi Province and Slovakia by 2009 in a bid to reduce its dependence on oil-related businesses.

The new plants will produce fertilizer containing the component ALA, which promotes photosynthesis in plants and makes it easier for fertilizers to be absorbed. The plan is to produce ALA domestically and ship it to the new Chinese and Slovakian plants to be made into fertilizer. Each of the new plants is expected to cost several hundred million yen. After they are put into service, the company expects combined sales in the two regions of around ¥8 billion ($66.7 million) a year. (