Ganzhou Rare Earth Group to invest over RMB10 billion into Rare Earth Valley construction
2018-04-11 18:03:11 [Print]
In order to build itself into a leading company in the Chinese Rare Earth Valley ("the Valley"), Ganzhou Rare Earth Group ("the Company") has already negotiated and introduce into the Valley 15 projects, of which four are merger projects, two research projects and nine deep processing projects, and the total investment will amount to over RMB10 billion (USD1,591 million).
The Company cooperated with relevant financial institutes and funds to co-set Ganzhou Rare Earth Industrial Development Fund ("the Fund") which aims to raise funds for projects to be launched in the Valley. The Fund is expected to be registered in the Valley core zone Ganxian District, with a capital size of RMB5 billion (USD796 million) for a period of five to seven working years. The Company also successfully applied for government grants which were expected to provide great financial support for the Valley projects.
To introduce into the valley CRRC high-end electric engine project, the Company is now negotiating with CRRC and Northern Rare Earth SYL High-tech. With an investment of RMB2 billion (USD318 million), the CRRC project consists of three phases, of which the first has an investment of RMB600 million (USD95.48 million) and will produce 1MW, 1.2MW and 5MW electric engines used in ships. The project is expected to realize an annual production value of RMB5 billion (USD796 million) and RMB15.7 billion (USD2,498 million) after three and five years in operation respectively.
As the subsidiary of China Southern Rare Earth Group (CSRE), the Company will fully tap into the renown of CSRE so as to absorb strategic investors into the valley and to build the valley into a major rare earth new material and application base in China, with its focus upon key fields including military and civil technology integration, rare earth function materials, applicable materials and industrial extension.
The Company cooperated with relevant financial institutes and funds to co-set Ganzhou Rare Earth Industrial Development Fund ("the Fund") which aims to raise funds for projects to be launched in the Valley. The Fund is expected to be registered in the Valley core zone Ganxian District, with a capital size of RMB5 billion (USD796 million) for a period of five to seven working years. The Company also successfully applied for government grants which were expected to provide great financial support for the Valley projects.
To introduce into the valley CRRC high-end electric engine project, the Company is now negotiating with CRRC and Northern Rare Earth SYL High-tech. With an investment of RMB2 billion (USD318 million), the CRRC project consists of three phases, of which the first has an investment of RMB600 million (USD95.48 million) and will produce 1MW, 1.2MW and 5MW electric engines used in ships. The project is expected to realize an annual production value of RMB5 billion (USD796 million) and RMB15.7 billion (USD2,498 million) after three and five years in operation respectively.
As the subsidiary of China Southern Rare Earth Group (CSRE), the Company will fully tap into the renown of CSRE so as to absorb strategic investors into the valley and to build the valley into a major rare earth new material and application base in China, with its focus upon key fields including military and civil technology integration, rare earth function materials, applicable materials and industrial extension.
