Summary: On 13 Oct., Shinghwa Advanced Material announced that it plans to build 100,000 t/a liquid LiPF6 and to terminate the construction of 5,000 t/a LiPF6 project (phase II) approved in 2015.
On 13 Oct., 2022, Shinghwa Advanced Material Group Co., Ltd. (Shinghwa Advanced Material) and Sichuan Zhongfu Taihua New Material Technology Co., Ltd. (Zhongfu Taihua) signed the Investment Cooperation Framework Agreement. Shenghua New Materials and Zhongfu Taihua intend to establish a lithium hexafluorophosphate (LiPF6) project company (lithium salts project company) in Leshan, Sichuan Province, which is controlled by Zhongfu Taihua. The registered capital of the joint venture is USD169.03 million (RMB1.20 billion), and the subscribed capital of Zhongfu Taihua is USD111.56 million (RMB792.00 million), whose capital contribution ratio is 66%; Shenghua New Materials subscribes to a capital contribution of USD57.47 million (RMB408.00 million), a capital contribution of 34%. The joint venture plans to invest in the construction of 100,000 t/a liquid LiPF6 and its supporting equipment with a total investment of about USD281.72 million (RMB2.00 billion).
The announcement shows that up to date, Shenghua New Materials has built 2,000 t/a solid LiPF6 production line and put it into production. Its 100,000 t/a liquid LiPF6 production device is still under construction, which is expected to be completed in June 2023.
On the same day, Shenghua New Materials also announced the termination of the construction of 5,000 t/a LiPF6 project (phase II), and its detail is as follows:
On 4 Dec., 2015, Shenghua New Materials passed the Proposal on the Construction of 5,000 t/a LiPF6 Project and the Proposal on the Establishment of a Joint Venture, and established Shinghwa Amperex Corporation to build a 5,000 t/a LiPF6 device, whose construction is divided into two phases. At present, the first phase of the project 2,000 t/a LiPF6 production device has been completed and put into production, the second phase of the project 3000 t/a LiPF6 production device is under pre-construction stage. Shenghua New Materials said that as of now, the 5,000 t/a LiPF6 project (Phase II) is undergoing preparatory work for the relevant construction and has not yet started. It will not have a significant impact on the company's existing business and overall production and operation.
Source:CCM
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