Summary: In order to build 8 wet-process Li-ion battery separator production lines, Cangzhou Mingzhu intends to invest USD493.20 million (RMB3.50 billion).
Cangzhou Mingzhu Plastic Co., Ltd. (Cangzhou Mingzhu) signed a Project Investment Agreement with the Cangzhou High-tech Industrial Development Zone Management Committee of Hebei Province (Cangzhou High-tech Zone) on 21 June. The terms and conditions for the investment and development of a 1.20 billion m2 wet-process Li-ion battery separator project in the Cangzhou High-tech Zone were agreed upon by the two parties.
Project highlights are indicated as follows:
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Total project investment: USD493.20 million (RMB3.50 billion), mainly invested in the construction of 8 wet-process Li-ion battery separator production lines and related ancillary facilities for the production of wet-process Li-ion battery separator products
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Project cycle: 2 construction phases
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Phase I:
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Investment: USD239.55 million (RMB1.70 billion)
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Production capacity: 600 million m2 of wet-process Li-ion battery separators
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Construction contents: 4 Li-ion battery separator production lines, along with related ancillary facilities
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Scheduled commencement: within 3 months after obtaining the project's construction land
According to reports, Cangzhou Mingzhu can now produce 590 million m2 of wet-process Li-ion battery separators (including 400 million m2 production capacity under construction). Upon completion of the abovementioned project, its production capacity will rise to 1.79 billion m2.
According to an announcement made the same day, Cangzhou Mingzhu acquired shares of its holding subsidiary Cangzhou Mingzhu Separator Technology Co., Ltd. (Separator Technology) from minority shareholders, accounting for 3.0147% of the subsidiary's registered capital. When the deal is done, Cangzhou Mingzhu will have a 100% equity stake in Separator Technology, up from 96.9853% currently, and Separator Technology will be its wholly-owned subsidiary.
Through those two initiatives, Cangzhou Mingzhu aims to enlarge its production capacity of wet-process Li-ion battery separator products, boost the scale effect and market share of its Li-ion battery separators, and raise the industrial competitiveness.
Source:CCM
More information can be found at CCM Li-ion Battery China Monthly Report.
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