CNGR Advanced Material to construct industrial production base in Beibu Gulf
2021-01-21 15:04:45 [Print]
On January 20, CNGR Advanced Material Co., Ltd. announced that it signed an investment agreement with Qinzhou city government on constructing an industrial production base in Beibu Gulf. According to the agreement, the project will be developed in phases, totaling an investment of about RMB23 billion (USD3.56 billion) and a land area of around 3,500 Mu (233 hectares). The project will focus upon development of NCM precursor and cobalt tetroxide as well as recycling and utilization of nickel metal, cobalt metal and battery materials. In particular, around RMB10 billion (USD1.55 billion) will be invested into phase one for constructing production facilities of 150,000tpy NCM precursor and 70,000tpy nickel metal and cobalt metal as well as for constructing recycling facilities. Phase one will have a land area of around 1,500 Mu (100 hectares) and a construction cycle of four years; when it goes into operation, it will greatly enhance the company's NCM precursor production capacity.
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