(Yicai Global) Oct. 28 -- A subsidiary under Hunan Baili Engineering Sci & Tech has won a CNY471 million (USD66.5 million) contract to build a production facility for lithium battery materials.

Changzhou Baili Lithium Battery Smart Factory, a wholly owned unit, signed the engineering, procurement and construction deal with Chengdu B&M Science and Technology  on Oct. 26, Baili said in a statement last night. The unit is expected to have finished design work by Nov. 30 and start installing equipment in April, the statement added, saying the factory should open by Sept. 30, 2020.

The statement did not disclose the project's capacity or which specific materials it will produce, only that the products would be for lithium-ion batteries with a high energy density.

Baili has won several recent contracts to build smart materials factories in the lithium battery sector, including a CNY466 million deal signed in June to set up and run production lines capable of making 10,000 tons of cathode materials a year for Sichuan New Lithium Energy Technology.

Editor: James Boynton