On April 3, Xingfa Group announced that its wholly-owned subsidiary, Inner Mongolia Xingfa Technology Co., Ltd., plans to invest Yuan 1.381 billion to build a 100,000-tonne-per-year battery-grade lithium iron phosphate (LFP) project in the Wuda Industrial Park of the Wuhai Economic Development Zone, Inner Mongolia.
The construction period is expected to be six months, with funding sourced from the company's own funds and bank loans. To date, preliminary procedures for the project, including filing, land use planning permits, and approvals for energy assessment and environmental impact assessment, have been completed.
Edited by Cassie Li, lixiangying@mysteel.com
