Posco Future M (KRX:003670) will invest 436.1 billion won to build a spherical graphite plant in Saemangeum, North Jeolla Province, aiming to localize battery anode material production and reduce reliance on China, The Korea Herald reported Friday.
The company signed the deal with the Saemangeum Development and Investment Agency (SDIA) and local authorities on Thursday, June 5.
The facility, set for completion in 2027, will produce 37,000 tons of spherical graphite on an annual basis.
Out of the total investment, 277.3 billion won will come from a rights offering in July. This move follows a board decision in April to boost domestic supply chains for key battery materials, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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