File photo shows a worker tests just-finished battery packs at a lithium battery factory in Tangshan, north China's Hebei Province. (Xinhua/Yang Shiyao)
BEIJING, Aug. 21 (Xinhua) -- Chinese tech firm Ningbo Ronbay Lithium Battery Material Co., Ltd. (Ronbay Technology, 688005.SH) intends to build two battery materials projects in the Republic of Korea (ROK), reported Shanghai Securities News Sunday.
According to the company's announcement, it plans to expand a 40,000-tonne high nickel ternary cathode material project in the ROK by adding an investment of no more than 1,993.09 million yuan in JAESE Energy Co., Ltd., its wholly-owned subsidiary in the country.
The company also plans to build a lithium ferromanganese phosphate cathode material project with an annual production capacity of 20,000 tonnes in the ROK by establishing a subsidiary in the country through its holding subsidiary Tianjin Skyland Technology Co., Ltd., with an investment not exceeding 642.0051 million yuan.
(Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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