Ronbay Technology to build cathode materials plants in South Korea
2023-08-21 11:49:29 [Print]
China's Ronbay Technology announced a nearly RMB2.6 billion (USD357 million) investment in building cathode material production bases in Chungju, South Korea.
The company plans to invest up to RMB1,993 million (274 million) in its wholly-owned South Korean subsidiary JAESE Energy Co., Ltd. for building the 40,000tpa high-nickel ternary cathode materials project. Tianjin Skyland Technology Co., Ltd., a majority-owned subsidiary of the company, would set up a South Korean unit to build the 20,000tpa LMFP project, with total investment of no more than RMB642 million (USD88.17 million). Ronbay Technology will use its own fund and self-raised fund to finance these two projects, which are both expected to complete main construction work by late 2024 and begin trial production in the first half of 2025.
The company plans to invest up to RMB1,993 million (274 million) in its wholly-owned South Korean subsidiary JAESE Energy Co., Ltd. for building the 40,000tpa high-nickel ternary cathode materials project. Tianjin Skyland Technology Co., Ltd., a majority-owned subsidiary of the company, would set up a South Korean unit to build the 20,000tpa LMFP project, with total investment of no more than RMB642 million (USD88.17 million). Ronbay Technology will use its own fund and self-raised fund to finance these two projects, which are both expected to complete main construction work by late 2024 and begin trial production in the first half of 2025.
Nickel Cathode 99.96%min EXW China
Unit:RMB/mt
China nickel sulfate producers' sales volume statistics by province by month
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