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Longbai Group accelerates industrial layout

 Last Update: 2022-10-29
 Source: Internet
 Author: User

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　　Sinochem New Network News has established 2 subsidiaries with 400 million US dollars and increased capital of 95 million US dollars in 3 subsidiaries.
Recently, Longbai Group has made another big move in accelerating the industrial layout
.

　　On July 25, Longbai Group announced that in order to improve the comprehensive utilization value of Panzhihua vanadium-titanium-magnetite resources and promote the industrialization of vanadium extraction from iron ore concentrates, it plans to jointly invest 200 million yuan with its wholly-owned subsidiary Longbai Sichuan Mining and Metallurgy Co.
, Ltd.
Yuan established Dragon Vanadium Technology Co.
, Ltd.
in Panzhihua City
.
Among them, Longbai Group invested 60 million yuan, holding 30% of Longvan technology; Longbai Mining and Metallurgy invested 140 million yuan, holding 70% of Longvan technology
.

　　Longbai Group said that after the establishment of Longvan Technology, it will be the main body of the implementation of the 30,000-ton/year V2O5 innovative demonstration project of vanadium-titanium-iron concentrate alkaline pelletizing wet process, which will help the company to more professionally promote the vanadium flow battery industry.
development
.

　　At the same time, in order to grasp the development opportunities of the titanium industry and realize the long-term plan of the titanium metal business, Yunnan Guotai Metal Co.
, Ltd.
, a holding subsidiary of Longbai Group, plans to invest 200 million yuan to establish Sichuan Guotai Metal Co.
, Ltd.
in Panzhihua City
.

　　On the same day, Longbai Group also announced that its subsidiary Billion (Hong Kong) Co.
, Ltd.
plans to separately charge Henan Billion New Energy Materials Co.
, Ltd.
, Henan Longbai New Material Technology Co.
, Ltd.
and Henan China Carbon New Material Technology Co.
, Ltd.
The capital increase shall not exceed US$95 million
.

　　Longbai Group said that this capital increase is based on the company's development strategy and operational needs, which is conducive to further enhancing the subsidiary's financial strength and operational capabilities, rapidly developing the company's lithium battery sector, and improving core competitiveness and profitability
.

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