On April 9, MGL announced that it plans to sign an investment agreement with the Administrative Committee of Dazhou High-tech Industrial Park and establish a wholly-owned subsidiary, Sichuan MGL New Material Technology Co., Ltd., with an investment of Yuan 500 million, to implement the fourth-generation and beyond lithium iron phosphate (LFP) integrated project.
The project consists of two sub-projects, including lithium iron phosphate and iron phosphate, both to be constructed in two phases. The LFP sub-project requires a total investment of approximately Yuan 1.8 billion, while the iron phosphate sub-project requires approximately Yuan 1.2 billion, bringing the combined total investment to about Yuan 3.0 billion. The first phase of the project is expected to complete equipment commissioning by March 31, 2027. The second phase will be initiated at an appropriate time after the first phase is completed and operational. This investment aims to enhance the company's product portfolio and achieve full coverage of mainstream cathode materials. The matter is subject to review and approval by the shareholders' meeting.
Edited by Cassie Li, lixiangying@mysteel.com
