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Updates on Graphex China Expansion Plan
Graphex Group (NYSE: GRFX) announces plans for Phase 2 of its graphite processing project in Nanshu Town, Qingdao, China. The project includes manufacturing facilities for 20,000 tonnes of natural graphite anode material and 100 tonnes of graphene oxide for battery systems. The expansion requires approximately 5.33 hectares of land and 50,000 sq. meters of construction, with an estimated investment of $30 million. Land auction is expected within 6 months after approvals, with construction starting 4-6 months after successful acquisition.
The company also reports delays in Phase 1 due to insufficient power supply, despite obtaining energy permits in August 2024. They are working with local authorities to resolve this issue by end of 2024.
Graphex Group (NYSE: GRFX) announces plans for Phase 2 of its graphite processing project in Nanshu Town, Qingdao, China. The project includes manufacturing facilities for 20,000 tonnes of natural graphite anode material and 100 tonnes of graphene oxide for battery systems. The expansion requires approximately 5.33 hectares of land and 50,000 sq. meters of construction, with an estimated investment of $30 million. Land auction is expected within 6 months after approvals, with construction starting 4-6 months after successful acquisition.
The company also reports delays in Phase 1 due to insufficient power supply, despite obtaining energy permits in August 2024. They are working with local authorities to resolve this issue by end of 2024.
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