Chuanfa Longmang announced on the evening of February 21 that the company plans to invest 12 billion yuan in the Deyang Chuanfa Longmang lithium battery new energy material project in the Deyang-Arabia Industrial Park with its wholly-owned subsidiary Deyang Chuanfa Longmang New Materials Co., Ltd. (hereinafter referred to as "Deyang Chuanfa Longmang") as the main body. After the project is put into production, the company will add new products such as iron phosphate and lithium iron phosphate.
The project mainly constructs an annual output of 200,000 tons of lithium iron phosphate, 200,000 tons of iron phosphate and supporting products. It is an extension of the company's industrial chain based on the existing industrial foundation. The company has upstream resources, industrial foundation and cost control advantages.
The construction period of this project is planned to be from March 2022 to December 2026. The Phase I project is tentatively scheduled to be completed and put into production in December 2024, and the Phase II project is tentatively scheduled to be completed and put into production in December 2026.
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