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Longbai Group intends to participate in the construction of iron phosphate production line

 Last Update: 2021-08-04
 Source: Internet
 Author: User

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Sinochem New Network News on July 25th, Longbai Group announced that its subsidiary Henan Baili New Energy Materials Co.
, Ltd.
intends to establish a joint venture with Hubei Wanrun New Energy to build a 100,000-ton/year iron phosphate production line
.

It is understood that the registered capital of the joint venture company is 100 million yuan, the registered capital of Baili New Energy is 51 million yuan, and the registered capital of Hubei Wanrun New Energy is 49 million yuan, and both parties contribute in cash
.

Longbai Group stated that the establishment of a joint venture to construct the iron phosphate project can take advantage of the resources and supporting facilities owned by the partners in the local area to provide nearby resources such as ferrous sulfate and supporting facilities for the company’s iron phosphate project.
While supplying raw materials, reduce the company's product production and transportation costs
.

In addition, iron phosphate is the core raw material for the production of lithium iron phosphate.

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