Panzhihua signs titanium industry project valuing RMB1.5 billion

On July 19th, Shaanxi Baoji Lixing Titanium Group ("Lixing") signed a framework agreement ("the Agreement") with the management committee of vanadium-titanium high-tech zone ("the Zone") in Panzhihua ("the Committee").

According to the Agreement, Lixing will invest RMB1.5 billion in building 20,000tpy of titanium sponge and 10,000tpy of titanium mill products project by two phases.Asian Metal CopyrightOn July 19th, Shaanxi Baoji Lixing Titanium Group "Lixing" signed a framework agreement "the Agreement" with the management committee of vanadium-titanium high-tech zone "the Zone" in Panzhihua "the Committee".Asian Metal Copyright Phase one of the project has an investment of RMB700 million and will activate the current capacity of titanium sponge in the Zone and expande the capacity to finish building 10,000tpy of titanium sponge capacity within one and half a year and 20,000tpy of titanium sponge capacity within three years; with a total investment of RMB800 million, phase two of the project will engage in the manufacturing of the smelting, forging, plate blank, sheared billet and tube blank of titanium and titanium alloy, processing and manufacturing of deformed parts, chemical anti-corrosion high pressure vessel, and manufacturing of nuclear high pressure vessel to realize 10,000tpy of titanium mill products within three years.

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