Jiangsu Lopal Tech to invest RMB2 billion in construction of NEVs battery cathode material project
2023-02-27 17:50:50 [Print]
Jiangsu Lopal Tech announced on February 24 that the company plans to invest and establish a project company in Indonesia through its subsidiaries, and to develop and construct "large-scale production project of NEVs power and energy storage battery cathode materials" through the project company. The project's total investment reaches about USD290 million (about RMB2 billion), and registered capital of the project company will be IDR300 billion (about RMB135 million) at the time of establishment.
The announcement shows that the project will be constructed in two phases. The first phase of the project with an annual output of 30,000 tons of LFP cathode materials is expected to start production at the end of 2023, and the construction and production time of the remaining 90ktpa LFP cathode materials project will depend on the market situation. At present, the project has not been commenced.
The announcement shows that the project will be constructed in two phases. The first phase of the project with an annual output of 30,000 tons of LFP cathode materials is expected to start production at the end of 2023, and the construction and production time of the remaining 90ktpa LFP cathode materials project will depend on the market situation. At present, the project has not been commenced.
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