Lubei Chemical: It plans to invest 24 million yuan to jointly establish Shandong Lubei Titanium and Zirconium New Material Technology and build a titanium and zirconium new material processing project with an annual output of 600,000 tons

Lubei Chemical announced on September 25 that in order to meet the company's demand for titanium dioxide resources, stabilize titanium dioxide production capacity, improve the company's competitiveness and profitability, and improve the company's strategic layout, the company plans to invest RMB 24 million, accounting for 80% of the shares, and Hainan Xinfu Supply Chain Co., Ltd.(invested 6 million yuan, accounting for 20% of the shares) jointly established Shandong Lubei Titanium Zirconium New Materials Technology Co., Ltd.(tentative name, subject to approval by the industrial and commercial administrative department).
The two parties plan to use the project company as the operating entity to build a deep processing base for titanium concentrate, rutile, monazite and zircon sand, mainly processing and selling titanium concentrate, rutile and zircon sand. The expected production capacity of the deep processing base is 600,000 tons/year. The name of the construction project is "New Material Processing Project with an Annual Output of 600,000 Tons of Titanium-Zirconium"(tentative plan).