Summary: LB Group plans to build a 150,000 t/a battery-grade LiFePO4 project in Nanzhang County, Xiangyang City, Hubei Province.
LB Group Co., Ltd. (LB Group) announced on 1 Dec. that the company has signed the Investment on Xiangyang Titanium Industry Chain Extension and Supplement Contract with the people's government of Nanzhang County. According to the contract, LB Group plans to invest a total of USD471.01 million (RMB3 billion) in a 150,000 t/a battery-grade lithium ferrous phosphate (LiFePO4) project and a 200,000 t/a titanium dioxide post-processing expansion project. Details are given as follows:
The first project will be invested by Hubei Baili Wanrun New Energy Co., Ltd. (Baili Wanrun), a subsidiary of LB Group, with USD314. 01 million (RMB2 billion). Baili Wanrun is to build battery-grade LiFePO4 production lines with an annual output of 150,000 tonnes in two phases, the first of which is 150,000 t/a ferric phosphate (FePO4) (intermediate product) and the second is 150,000 t/a LiFePO4.
The second project will be invested by Xiangyang Lomon Titanium Industry Co., Ltd. (Xiangyang Lomon), a wholly owned subsidiary of LB Group, with USD157.00 million (RMB1 billion). Xiangyang Lomon will add a 200,000 t/a production line of titanium dioxide post-processing on the basis of its existing titanium dioxide production lines and supporting facilities.
LB Group explains that this cooperation with Nanzhang County will strengthen the company's main business capability and will promote its layout in lithium-ion battery materials field, which can enhance its comprehensive competitiveness and improve its profitability.
The announcement released by LB Group on 30 Nov. is also worth attention. It declares that Henan Baili New Energy Materials Co., Ltd., a wholly owned subsidiary of LB Group, plans to use self-owned and self-raised fund of USD549.51 million (RMB3.5 billion) to invest in a 200,000 t/a lithium-ion battery anode material integration project. The company divided the project into three phases. It plans to build a 50,000 t/a production line of graphite anode material for lithium-ion batteries in the first and second phase respectively and build a 100,000 t/a production line of graphite anode material for lithium-ion batteries in the third phase.
These investment shows that LB Group has basically taken LiFePO4 cathode material and graphite anode material as its main directions in developing new energy industry.