A listed company announced investment in new energy materials project in Yichang
2022-12-01 19:12:53
By Tan Maolin, Yichang International Communication Studio
Dongfang Shenghong (000301.SZ) announced November 29 plans to invest 18.7 billion yuan (USD2.6 billion) in an iron phosphate and lithium iron phosphate project in Yichang City.
The project, which will occupy 162 hectares in Yidu Chemical Industry Park, Yichang City, entails the processing of 1.8 million tons of minerals and 800,000 tons of sulfuric acid per year, along with other production lines, warehouses and public works.
Dongfang Shenghong, one of four China’s four major private chemical industries, is moving away from polyester chemical fibers to concentrate on high-end new material projects.
In recent years, Yichang has encouraged the move from traditional chemicals to green chemicals, and has formed a complete industrial chain for new energy batteries.
Dongfang Shenghong (000301.SZ) announced November 29 plans to invest 18.7 billion yuan (USD2.6 billion) in an iron phosphate and lithium iron phosphate project in Yichang City.
The project, which will occupy 162 hectares in Yidu Chemical Industry Park, Yichang City, entails the processing of 1.8 million tons of minerals and 800,000 tons of sulfuric acid per year, along with other production lines, warehouses and public works.
Dongfang Shenghong, one of four China’s four major private chemical industries, is moving away from polyester chemical fibers to concentrate on high-end new material projects.
In recent years, Yichang has encouraged the move from traditional chemicals to green chemicals, and has formed a complete industrial chain for new energy batteries.
