On May 13, SEMCORP announced that it plans to invest in the construction of a lithium battery separator project with an annual capacity of 5 billion square meters in Rong County, Zigong City, Sichuan Province, with a total estimated investment of Yuan 4 billion. The company has signed a Strategic Cooperation Agreement with the Zigong Municipal People's Government, and its holding subsidiary, Shanghai SEMCORP, has signed an Investment Cooperation Agreement with the Rong County People's Government.
The project will be implemented through a newly established subsidiary, in which the company holds a 67% stake, while an industrial cooperation partner recommended by the Zigong Municipal Government holds 33%. Subsequently, additional partners may be introduced for a stake not exceeding 10%. The project funds will be raised through the company's own funds and self-raised financing. The project aims to improve production capacity layout and enhance market share.
Edited by Cassie Li, lixiangying@mysteel.com
