On July 17, Annada announced that its wholly-owned subsidiary, Tongling Huatai New Energy Materials Co., Ltd., plans to invest in the construction of a new energy materials project, an integrated 300,000-tonne battery-grade iron phosphate production facility.
The project has a planned total investment of Yuan 3.298 billion, with funding to be sourced from the company's own funds and bank loans. The construction period is estimated at 18 months. The project is designed to reduce costs and enhance market competitiveness through a "titanium dioxide-iron phosphate" co-production model. This proposal is still subject to review and approval by the company's shareholders' meeting
Edited by Cassie Li, lixiangying@mysteel.com
