Zhongyin Cashmere to invest RMB2 billion in 80,000tpy Li-battery cathode material LFP project
2021-11-22 11:42:25 [Print]
On November 19, Zhongyin Cashmere announced that it plans to sign with Sichuan Xinruiheng Li-energy Technology and its shareholder Chongxin Xinda Industry an equity transfer agreement. According to the agreement, Chongxin Xinda Industry will transfer the 100% stake it holds in Xinruiheng Li-energy Technology to Zhongyin Cashmere at RMB0; upon completion of transfer, Zhongyin Cashmere will provide RMB50 million (USD7.83 million) as registration capital to Xinruiheng Li-energy Technology, while the latter will become a fully owned subsidiary of Zhongyin Cashmere and will act as the investor for a 80,000tpy Li-battery cathode material LFP project.
The LFP project will have a planned investment of RMB2 billion (USD0.31 billion) and will be constructed within four years, with stage one capacity to be 20,000tpy LFP.
The LFP project will have a planned investment of RMB2 billion (USD0.31 billion) and will be constructed within four years, with stage one capacity to be 20,000tpy LFP.
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Unit:RMB/mt
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Unit: mt
