On October 28, Sichuan Development Lomon (SDLomon) announced that its wholly-owned subsidiary, Deyang SDLomon, has signed an Investment Cooperation Agreement with Jiangxi Shenghua New Material Co., Ltd., a subsidiary controlled by Fulin Precision Machining Co.,Ltd., to jointly establish a joint venture named Fulin Lomon New Material Co., Ltd.
With a registered capital of Yuan 660 million, the joint venture will undertake a lithium iron phosphate (LFP) project with an annual production capacity of 175,000 tonnes. The total investment for the project is estimated to be Yuan 1.961 billion, funded through the joint venture's own capital and financing. This investment aims to optimize the production capacity layout of the lithium battery materials industry and achieve optimal performance and cost for end products.
Edited by Cassie Li, lixiangying@mysteel.com
