(Yicai Global) April 18 -- Baili Engineering Sci & Tech Co. has won a CNY1.3-billion (USD206-million) contract to build a lithium battery materials factory in China’s Ningxia Hui Autonomous Region as the company looks to establish expertise in constructing production lines for the growing sector.
Baili Engineering will design and build the factory for Ningxia Hanyao Graphene Energy Storage Material Technology Co., the Yueyang-based contractor said in a statement yesterday. The plant will be able to produce 30,000 tons of ternary cathode materials and 10,000 tons of graphene-based conductive paste for lithium batteries each year.
Lithium batteries are the lifeblood of the rising new-energy vehicles sector, where China was the world’s largest and fastest growing market last year. The globe’s largest auto market sold 605,500 plug-in passenger cars last year, growing 73 percent on the year and 30 times faster than the industry average.
Construction of Hanyao Graphene’s plant will span two phases, scheduled for completion in March 2019 and June 2020 respectively. Baili Engineering will manage the entire project from procurement through to construction of the production lines and auxiliary facilities, the statement added.
The total contract value includes a project design fee of CNY15 million (USD2.4 million) and other expenses of CNY206 million, covering project management fees and remuneration.
Editor: James Boynton