China Baoan Group's subsidiary to invest in synthetic graphite anode material production line project
2021-10-26 10:53:05 [Print]
China Baoan Group announced that its subsidiary BTR New Material Group Co., Ltd. plans to sign a cooperation agreement with Shanxi Jundong New Energy Technology Co., Ltd., Shanxi Aochen Material Technology Co., Ltd. and Niu Sufang on forming a joint venture Shanxi Ruijun New Material Technology to construct a 70,000tpy synthetic graphite anode material production line project. Registration capital for the joint venture is RMB300 million (USD47.01 million), of which BTR will provide RMB153 million (USD23.98 million) for a 51% stake in the joint venture. The project will be built in two stages. Stage one with an investment of RMB1.84 billion (USD0.29 billion) will be constructed with 40,000tpy synthetic graphite anode material production line, and stage two will be built with additional 30,000tpy synthetic graphite anode material production capacity, upon sales conditions of stage one products.
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