Core Viewpoint - Kaishan Co., Ltd. is accelerating its globalization process with the signing of a steam supply agreement for a green ammonia project in Kenya, marking a significant expansion into the green hydrogen and ammonia sectors [1][4]. Group 1: Project Details - The new green ammonia project in Kenya has a total investment of approximately $800 million (about 5.68 billion RMB) and is expected to generate annual revenues between $220 million and $250 million over a 25-year operational period [1][3]. - The project will establish a geothermal power plant with a capacity of 165.4 MW and facilities to produce 100,000 tons of green ammonia annually, with plans to increase total production capacity to 200,000 tons [3]. - The project aims to address fertilizer supply issues for Kenyan agriculture, ensuring food security while protecting the environment by preventing the conversion of forests and wetlands into farmland [2][4]. Group 2: Strategic Significance - This project is set to become the largest agricultural project in East Africa and the largest green fertilizer project in Africa, achieving zero carbon emissions during production [4]. - It represents a major strategic breakthrough for the company, expanding its business into the green hydrogen and ammonia sectors and showcasing its advanced technology and commercial capabilities across the geothermal energy, hydrogen production, and ammonia synthesis value chain [4]. Group 3: Company Performance and Globalization - Kaishan Co., Ltd. has seen continuous growth in its performance, with overseas revenue accounting for 50.21% of total revenue in the first half of 2025, indicating a significant shift towards globalization [1][6]. - The company has established three overseas manufacturing bases and has a presence in major global markets, including the U.S., Turkey, and several countries in Africa and Asia [5][7]. - Since beginning its globalization journey in 2016, the company has transformed into a multinational corporation with a diversified revenue structure, laying a solid foundation for becoming a globally influential company [8].

10月27日晚间，开山股份（300257）公告，近日，公司位于肯尼亚间接控制的全资子公司Kaishan Terra Green Ammonia Limited（简称"项目公司"）与肯尼亚发电公司（简称"KenGen"）签署了《蒸汽供应协 议》，相关项目总投资预计8亿美元左右。 另外，开山股份公告显示，公司将与国内顶级的、拥有综合甲级设计资质的工程设计院合作建设绿氢、 绿氨及尿素、硝酸铵钙化肥装置。项目所需的蒸汽采集系统、地热模块电站以及氨合成装置中的关键设 备——氢气压缩机、合成气压缩机以及氨制冷压缩机（工业冷冻机）将由开山股份相关子公司设计、制 造。 "本项目如成功实施，将是东部非洲最大的农业项目。"开山股份称，项目如成功实施标志着公司业务版 图成功扩展至绿氢、绿氨新能源领域。同时，项目将展现公司整合可作为基载电力的地热发电、制氢、 合成氨全产业链的先进技术与商业能力，为公司未来在全球范围内综合利用地热能、太阳能及风能大规 模生产绿氢/绿氨奠定基础。 根据协议约定，KenGen拟向项目公司提供其位于肯尼亚Olkaria地热田现有18口地热生产井所产出的蒸 汽；项目公司将建设并运营地热电站，用从KenGen购 ...