18.6 billion yuan! New materials for lithium battery in the world's top 500 heavy warehouse

of September 22, the commencement of major projects in Yichang City in the third quarter of 2023 and the commencement of Shenghong Group's Hubei Haigs Lithium and Electricity New Material Project were held in Yidu City, Yichang City, Hubei Province. There are 222 major projects in

this centralized start-up activity, with a total planned investment of 175.36 billion yuan. Among them, the Hubei Haigs Lithium and Electricity New Material Project with a total investment of 18.6 billion yuan is the largest single investment industrial project introduced by Yidu so far.

It is reported that Hubei Haigs Lithium and Electricity New Material Project is invested by Hubei Haigs New Energy Co., Ltd., a wholly-owned subsidiary of Shenghong Holding Group. Shenghong is one of the world's top 500 enterprises, ranking 222nd in the world's top 500 and 66th in China's top 500 in 2023. It has constructed a new pattern of integrated development of petrochemical refining, new energy, new materials and high-end textile industry chain, breaking foreign monopolies in many subdivisions, filling domestic gaps and playing an important role in the industry. The

project covers an area of 2440 mu, and will form an annual production capacity of 500000 tons of iron phosphate and 300000 tons of lithium iron phosphate, with an annual output value of 27.8 billion yuan and a tax revenue of 1.2 billion yuan. It is the core project of Shenghong to build a new pattern of "1 + N" in the diversified industrial chain of new energy, new materials, electronic chemistry, green environmental protection and so on. The project is divided into two phases . The first phase plans to build 100,000 tons of iron phosphate and 100,000 tons of lithium iron phosphate and supporting equipment. It is expected to be completed in October 2024.