China-ASEAN fund invests $50m in Laos potash plant

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NANNING, Oct 22 (Xinhua): The China-ASEAN Fund on Investment Cooperation has invested 50 million US dollars to aid in the development of a potash salt ore mine in Laos, the fund operator said Friday. The fund has bought a stake in Asian Potash Corp Ltd, the Chinese investor in the Laos potash salt ore mine in Khammouane Province in Laos, the operator said in a press release. The project, which is expected to be Asia's biggest potash fertiliser producer with an annual production capacity of 3 million tonnes, has a total investment of 8 billion yuan.