GEM to invest in building new generation ultra-high nickel PCAM plant in South Korea
2023-03-27 17:45:33 [Print]
GEM announced on March 24 that, the company recently signed a memorandum of understanding with SK On and ECOPRO of South Korea, and three parties confirmed the initial intention of a joint venture to build a new generation ultra-high nickel PCAM manufacturing plant for secondary power battery in South Korea.
In order to implement the aforementioned memorandum, GEM South Korea, a subsidiary of GEM, will take the lead in joint ventures with upstream and downstream enterprises such as SK On and ECOPRO to invest in PCAM manufacturing plant and related supporting projects in the New Wanjin National Industrial Park of South Korea. From 2023 to 2026, the cumulative investment amount will be KRW1.21 trillion (approximately RMB6.4 billion). Upon completion of the project, it will form an annual production capacity of 43,000 tons of new generation ultra-high nickel PCAM and supporting nickel-cobalt-manganese raw material system, and the production capacity will be expanded to no less than 100,000 tons according to market demand in the future.
In order to implement the aforementioned memorandum, GEM South Korea, a subsidiary of GEM, will take the lead in joint ventures with upstream and downstream enterprises such as SK On and ECOPRO to invest in PCAM manufacturing plant and related supporting projects in the New Wanjin National Industrial Park of South Korea. From 2023 to 2026, the cumulative investment amount will be KRW1.21 trillion (approximately RMB6.4 billion). Upon completion of the project, it will form an annual production capacity of 43,000 tons of new generation ultra-high nickel PCAM and supporting nickel-cobalt-manganese raw material system, and the production capacity will be expanded to no less than 100,000 tons according to market demand in the future.
Ferro-nickel 10%min EXW China
Unit:RMB/dmtu
China nickel sulfate producers' number MoM output increase statistics by province by month
Unit: pcs
