On the evening of April 27, Yonfer Agricultural Technology Co., Ltd. announced that it plans to invest in the construction of the Phosphorus-Based New Energy & New Materials Project. The company has signed the Xinyangfeng Phosphorus-Based New Energy & New Materials Project Contract with the People's Government of Dongbao District, Jingmen City, Hubei Province. The project has a total planned investment of approximately Yuan 3 billion, and includes the construction of a 300,000-tonne-per-year lithium iron phosphate (LFP) production line, along with supporting upstream facilities such as a 200,000-tonne-per-year iron phosphate plant. The project will be developed in phases.
Phase I involves an investment of Yuan 800 million to construct a 100,000-tonne-per-year LFP project, which is scheduled to commence production within 18 months after obtaining construction permits. Upon commissioning, the annual output value and tax contributions will be required to meet the relevant standards of a provincial-level industrial park. Phase II will be advanced in due course based on the operational performance of Phase I as well as market conditions and other relevant factors (the actual project scope is subject to final approval or filing by the competent government authorities).
Edited by Cassie Li, lixiangying@mysteel.com
