On June 23, Fulin Precision announced that its subsidiary, Jiangxi Shenghua New Material, plans to sign a Project Investment Cooperation Agreement with Lintai Group and Bairuide Mining. The parties intend to jointly invest in and establish a joint venture company, through which they will construct an integrated project with an annual production capacity of 200,000 tonnes of lithium dihydrogen phosphate, along with a supporting 100,000-tonne thermal phosphoric acid facility.
The total estimated investment for the project is Yuan 3.0 billion. The target company will have a registered capital of Yuan 400 million, of which Jiangxi Shenghua will contribute Yuan 160 million, representing a 40% equity stake. The project is designed to secure the upstream raw material supply for the company's lithium iron phosphate (LFP) business and to enhance its core competitiveness.
Edited by Cassie Li, lixiangying@mysteel.com
