Nanjing Public Utilities Development (000421.SZ) announced that the company has signed a strategic cooperation agreement with Ganfeng Lithium Group Co., Ltd. (referred to as "Ganfeng Lithium") and Nanjing Environment Group Co., Ltd. (referred to as "Environment Group") based on the principles of "complementary advantages, mutual benefit, shared results, and common development" to carry out comprehensive cooperation in the fields of waste battery recycling and lithium battery application. A joint venture company is planned to be established by the three parties with a registered capital of 100 million yuan, of which the company or its controlling entity holds 35%, Ganfeng Lithium or its controlling entity holds 35%, and Environment Group or its controlling entity holds 30% of the shares. The joint venture plans to invest in and build a 0.3-million-ton waste battery recycling base in Jiangsu Province. The preliminary plan is for Phase 1 to have a scale of 0.03 million tons, Phase 2 to have a scale of 0.07 million tons, and Phase 3 to have a scale of 0.2 million tons. The production capacity planning can be adjusted according to the market situation. The total investment in the project is expected to be 1 billion yuan, of which 0.1 billion yuan is invested in Phase 1, 0.25 billion yuan is invested in Phase 2, and 0.65 billion yuan is invested in Phase 3.
Financial News App reports, Nanjing Public Utilities Development (000421.SZ) announced that the company has signed a strategic cooperation agreement with Ganfeng Lithium Group Co., Ltd. (referred to as "Ganfeng Lithium") and Nanjing Environment Group Co., Ltd. (referred to as "Environment Group") based on the principles of "complementary advantages, mutual benefit, shared results, and common development" to carry out comprehensive cooperation in the fields of waste battery recycling and lithium battery application.
A joint venture company is planned to be established by the three parties with a registered capital of 100 million yuan, of which the company or its controlling entity holds 35%, Ganfeng Lithium or its controlling entity holds 35%, and Environment Group or its controlling entity holds 30% of the shares. The joint venture plans to invest in and build a 0.3-million-ton waste battery recycling base in Jiangsu Province. The preliminary plan is for Phase 1 to have a scale of 0.03 million tons, Phase 2 to have a scale of 0.07 million tons, and Phase 3 to have a scale of 0.2 million tons. The production capacity planning can be adjusted according to the market situation. The total investment in the project is expected to be 1 billion yuan, of which 0.1 billion yuan is invested in Phase 1, 0.25 billion yuan is invested in Phase 2, and 0.65 billion yuan is invested in Phase 3.