Spanish Crimidesa, the world's largest exporter of thenardite, a chemical raw material, recently signed an agreement with a chemical company in Jiangsu Province, east China, for joint development of thenardite resources in Hongze County.

In line with the agreement, the registered capital of the Sino-Spanish joint venture will reach 143 million yuan (US$17.2 million), with the Spanish company investing 53 million yuan (6.39 million dollars), and the Jiangsu Nanfeng Chemical Share Holding Co. Ltd contributing the rest.

A production line with an annual output capacity of 200,000 tons will be built to increase the county's annual thenardite output to 600,000 tons.

The Jiangsu Nanfeng Chemical Share Holding Co. Ltd is China's second largest producer of thenardite, with an annual output capacity of 400,000 tons. Crimidesa is able to export 700,000 tons of thenardite to 68 countries and regions every year.

The proven deposit of thenardite in Hongze County is estimated at 150 million tons.