China BlueChemical Ltd. (3983.HK) said Wednesday it aims to buy some of the chemical fertilizer assets of state-owned China National Chemical Construction Corp., from its parent China National Offshore Oil Corp.

"We are studying this plan, something could happen this year, but there is no definite timetable," BlueChemical's Chairman Wu Mengfei told reporters.

Wu added that BlueChemical will likely buy only some of the China National Chemical Construction assets, because not all have synergy with the Hong Kong- listed company.

China National Chemical Construction is an export-oriented chemical company which also carries out trading, research and development, engineering design and storage of compound fertilizers.

In November, CNOOC Group, China's third-largest oil company by assets, took over China National Chemical Construction, as part of the State-owned Assets Supervision and Administration Commission's efforts to reorganize government owned firms.

According to CNOOC Group, China National Chemical Construction had net assets of CNY1.1 billion, and sales revenue of CNY4.2 billion as at the end of 2005.

Source:佚名