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CNNC Hua Yuan Titanium Dioxide to set up JV with CATL's subsidiary

May 28, 2021


Abstract : CNNC Hua Yuan Titanium Dioxide Co., Ltd. announced recently that it has signed a cooperative agreement with Time Yongfu Technology Co., Ltd., a subsidiary of China's power battery giant Contemporary Amperex Technology Co., Ltd. (CATL, 300750.SZ), to establish a joint venture company.

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Photo taken on Sept. 11, 2019 shows an engineering center of Contemporary Amperex Technology Co., Ltd. (CATL). (Xinhua/Lin Shanchuan)

BEIJING, May 28 (Xinhua) -- CNNC Hua Yuan Titanium Dioxide Co., Ltd. announced recently that it has signed a cooperative agreement with Time Yongfu Technology Co., Ltd., a subsidiary of China's power battery giant Contemporary Amperex Technology Co., Ltd. (CATL, 300750.SZ), to establish a joint venture company.

According to the agreement, the new company will be devoted to pushing forward the investment, construction and operation of comprehensive smart new energy projects, covering photovoltaics, wind power, and energy storage.

It is learned that the joint venture has the registered capital of around 100 million yuan, of which CNNC Hua Yuan Titanium Dioxide Co., Ltd. contributed 50 million yuan, accounting for 50 percent of the total capital. 

CNNC Hua Yuan Titanium Dioxide Co., Ltd. said that the establishment of the joint venture will further deepen its cooperation with CATL in the field of new energy. (Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)

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Keyword: JV CATL

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