Sinochem Fertilizer (00297): Sinochem Linyi and Sinochem Shandong sign smart drip irrigation project contract

Zhitong Finance App News, Sinochem Fertilizer (00297) announced that on March 25, 2024, Sinochem Linyi, an indirect wholly-owned subsidiary of the company, signed an intelligent drip irrigation project contract with Sinochem Environmental Shandong. Sinochem Linyi provided Sinochem Shandong with equipment for the smart drip irrigation project and corresponding installation/installation guidance, debugging/commissioning guidance and other services at a cost of about RMB 11.9059 million.

According to the announcement, Sinochem Linyi is an indirect wholly-owned subsidiary of the company, mainly engaged in agricultural machinery R&D and sales, sales of smart instruments, communication equipment and electronic products, water conservation-related consulting, engineering management, and irrigation services. The smart drip irrigation project is part of the integrated infrastructure of intelligent water and fertilizer, and is one of Sinochem Linyi's main businesses. Sinochem Linyi planned and designed the project area and issued a material list in accordance with the public bidding procedure. It believed that the profit rate of the order was reasonable, so it participated in the bidding. Through the implementation of intelligent drip irrigation projects, Sinochem Linyi can improve integrated water and fertilizer project management methods, and establish models for water and fertilizer projects of 10,000 mu or more in fields. Furthermore, Sinochem Linyi can also use the intelligent drip irrigation project as an opportunity to develop an integrated water and fertilizer order pipeline in the field of saline-alkali land improvement.