Sichuan New Energy Power to purchase 51% stake in Dingsheng Lithium
2019-11-22 17:23:47 [Print]
On November 21, Sichuan New Energy Power announced that it plans to purchase a 51% stake in Sichuan Energy Investment Dingsheng Lithium Technology Co., Ltd. ("Dingsheng Lithium") either by cash or by share placement; and the consideration will be decided upon based upon actual assessment results.
Dingsheng Lithium plans to build a 50,000tpa lithium chemical project in the Ganzi-Meishan Industrial Park which will be built in three stages and with a total investment of RMB 3 billion (USD426 million). The Stage One part with a 10,000tpa capacity was already built in late 2018, and is expected to have all related assessments, settlements and financial audit completed late this November.
According to Sichuan New Energy Power, signing of this proposed stake acquirement complies with its strategic development plan and will facilitate its efforts in building a full-length lithium industrial chain.
Dingsheng Lithium plans to build a 50,000tpa lithium chemical project in the Ganzi-Meishan Industrial Park which will be built in three stages and with a total investment of RMB 3 billion (USD426 million). The Stage One part with a 10,000tpa capacity was already built in late 2018, and is expected to have all related assessments, settlements and financial audit completed late this November.
According to Sichuan New Energy Power, signing of this proposed stake acquirement complies with its strategic development plan and will facilitate its efforts in building a full-length lithium industrial chain.
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