Xiamen Tungsten New Energy (688778.SH) announced that in order to meet the precursor material needs of Xiamen Tungsten New Energy Materials in France and lay a good foundation for the company's long-term development, Xiamen Tungsten Europe plans to jointly establish France Xiamen Tungsten New Energy Technology with Orano PCAM in France, with a total investment of 210 million euros, of which Orano PCAM will contribute 107.1 million euros in cash, holding 51% of the shares, and Xiamen Tungsten Europe will contribute 102.9 million euros in cash, holding 49% of the shares. France Xiamen Tungsten New Energy Technology will build an annual production line of 40,000 tons of positive electrode material precursor.
The joint venture plans to build a 40,000-ton positive electrode material precursor project in Dunkirk, France, with a total construction investment of 3,159.91 million RMB (including tax) (the final investment amount shall be subject to the actual investment). The main construction contents include two main buildings for positive electrode material precursor, product warehouse, raw material storage, water treatment support center, R&D center and related auxiliary facilities.