Lubei Chemical: It is planned to establish a joint venture company to invest in a selection project with an annual processing of 600,000 tons of zirconite ore

Lubei Chemical announced on the evening of January 22 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 16.5 million to account for 55% of the shares. Shanghai Tibao Chemical Technology Co., Ltd.(Invested 7.5 million yuan, accounting for 25% of the shares) and Hainan Xinfu Supply Chain Co., Ltd.(invested 6 million yuan, accounting for 20% of the shares) jointly established Shandong Lubei Zirconium Titanium New Materials Technology Co., Ltd.

The announcement shows that the three parties will jointly invest in establishing a project company (limited liability company) in Wudi County, Shandong Province in accordance with the provisions of the Company Law of the People's Republic of China. With the project company as the operating entity, we will build a deep processing base for titanium concentrate, rutile, monazite and zircon sand, and mainly focus on the processing and sales of 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 "Selection Project for Treating 600,000 Tons of Zirconium and Titanium Dioxide per Year".

The company said that the investment and establishment of a holding subsidiary will help stabilize the company's raw material supply, optimize product structure, broaden business scope, improve strategic layout, improve the company's competitiveness, and lay a good foundation for future development.