Shinghwa Advanced Material to Build 1.8-Billion-Yuan Liquid Lithium Salt Plant

MT Newswires Live

08/04

Shinghwa Advanced Material (SHA:603026) will invest 1.80 billion yuan to build a 230,000 tons-per-year liquid lithium salt project in China's Shandong Province.

The project covers 273,000 square meters and is expected to generate 6.09 billion yuan in annual revenue and 1.52 billion yuan in net profit at full capacity, according to a Tuesday filing with the Shanghai bourse.

Construction is expected to take 24 months.

Shares of the producer of basic organic chemical products rose 2% in recent trade.

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