LBM New Energy (AP) to invest in Liyuan Phase III Project in Indonesia

LBM New Energy (AP) Pte. Ltd., a controlled sub-subsidiary of Lopal Tech, is investing in the construction of the "New Energy Vehicle Power and Energy Storage Battery Cathode Material Large-Scale Production Project" (Indonesia Liyuan Phase III Project) in Indonesia, through its wholly-owned subsidiary, PT LBM Energi Baru Indonesia Batang.

The project will establish production lines with an annual capacity of 120,000 tons of second- and third-generation lithium iron phosphate cathode materials. The total investment is approximately USD160 million, equivalent to around RMB 1.088 billion.