With An Investment Of Nearly 1.3 Billion Yuan, The First Phase Of Jinpu Titanium Lithium Material Project Will Be Built In September.
On the evening of May 29th, Jinpu Titanium Industry announced that it would invest about 1.28 billion yuan to build the first phase of the new energy battery materials integration project. The project is located at the new coal chemical synthetic material base in Huaibei City, Anhui Province.
The project plans to build 100000 tons / year iron phosphate and 300000 tons / year sulphuric acid plants from sulfur refined sand, which is expected to start in September and be completed by the end of next year. Iron phosphate is one of the raw materials of lithium iron phosphate.
The new energy battery materials integration project of Jinpu titanium industry was officially announced in March this year, with a total investment of 10 billion yuan and an annual production capacity of 200000 tons of battery-grade iron phosphate and 200000 tons of lithium iron phosphate.
The project is planned to be built in three phases, and the second and third phases of the project will be launched in June 2024 and March 2026 respectively.
Affected by the above news, Jinpu titanium shares rose more than 5% at one point when trading opened on May 30. As of the afternoon close, Jinpu titanium shares were 3.95 yuan per share, up 2.86%.
Jinpu titanium industry is mainly engaged in titanium dioxide, with a total capacity of about 150000 tons, ranking in the forefront of the industry. Titanium dioxide is an important inorganic chemical pigment, and its downstream applications include coatings, medicine, food and other industries.
The by-products of titanium dioxide in the production process, such as ferrous sulfate and hydrogen, caustic soda, hydrogen peroxide, etc., can be processed into ferric phosphate and other materials.
Jinpu Titanium Industry said that the construction of the above projects will further extend the company's industrial chain to meet the growing demand in the field of lithium iron phosphate new energy.
Benefiting from the increase in production and sales of new energy vehicles and the increase in the installed capacity of lithium iron phosphate batteries, the price of lithium iron phosphate has continued to rise in recent years. As of May 27, the reference price of lithium iron phosphate was 155000 yuan per ton, up 308 percent from the beginning of last year, according to the business society.
In addition to the Jinpu titanium industry, the leading enterprises in the titanium dioxide industry, such as 002145.SZ and 002601.SZ, have also announced their involvement in the lithium industry.
In February last year, China Nuclear Titanium dioxide announced that it planned to invest 12.1 billion yuan to build a lithium iron phosphate project with an annual capacity of 500000 tons. In August of the same year, Longbai Group, the largest titanium dioxide enterprise in China, also announced that it would spend 4.7 billion yuan to build projects such as 200000 tons of battery material-grade iron phosphate.
On May 29, Longbai Group said on the investor interactive platform that its new energy battery material products began mass production in April, and the output is increasing month by month.
