On April 22, XTC New Energy Materials (Xiamen) Co., Ltd. announced that its holding subsidiary, XTC New Energy Materials (YAAN) Co., Ltd., plans to invest in a new production line project with an annual capacity of 40,000 tonnes of lithium iron (manganese) phosphate, based on its existing 40,000-tonne-per-year LFP production capacity. The total estimated investment for the project is Yuan 734 million, with a construction period of 25 months.
To facilitate the smooth implementation of the above project and ensure the sustainable development of Ya'an XTC New Energy Materials, Ya'an XTC New Energy Materials plans to increase its registered capital by Yuan 700 million. The company will subscribe Yuan 697 million in cash, while Cangya Investment will subscribe Yuan 3 million in cash.
Edited by Cassie Li, lixiangying@mysteel.com
