Jiangxi Shenghua to build 350ktpa high-density LFP project

Jiangxi Shenghua New Materials Co., Ltd., a subsidiary of Mianyang Fulin Precision Machining Co., Ltd., plans to invest 4 billion yuan (563 million US dollars) to build a 350,000-tonne-per-annum high-density lithium iron phosphate (LFP) project in partnership with the Deyang-Aba Ecological Economic Industrial Park. The project will be developed in two phases, each featuring a 175,000tpa production line and a 12-month construction period.

Jiangxi Shenghua will also form a joint venture with Deyang Chuanfa Lomon New Material Co., Ltd., wholly owned by Sichuan Development Lomon Co., Ltd., to develop the first-phase 175,000tpa LFP project using the ferrous oxalate process.

The joint venture will have a registered capital of 660 million yuan (92.95 million US dollars), with Jiangxi Shenghua holding 51% of equity interest and Deyang Chuanfa Lomon holding 49%.