Groundbreaking Ceremony for CNY 1.08 Billion Scandium-Vanadium New Materials Industrial Park in Jiaozuo
Date: 14 Oct 2024 |
Source: Asiachem-Energy WeChat, 12 October 2024
The construction of the Scandium-Vanadium New Materials Industrial Park, with a total investment of CNY 1.08 billion, officially commenced on 8 October 2024, as part of the 14th phase of Henan Province's "Three Batches" project initiative. The groundbreaking ceremony took place in Jiaozuo, where 51 projects were signed, with a total investment of CNY 25.11 billion, and 35 projects, with a total investment of CNY 24.53 billion, began construction.
The industrial park, a key project for Jiaozuo, will be developed in three phases, spanning approximately 200 acres. The first phase will focus on the production of 2,500 tons of vanadium pentoxide, 60,000 cubic meters of vanadium electrolyte, and 50 tons of scandium fluoride per year. The second phase will expand production with 50 tons of scandium fluoride, 1,200 tons of aluminium-based intermediate alloys, and 40,000 cubic meters of vanadium electrolyte annually. The third phase will include the production of 20,000 tons of new high-performance aluminium alloy billets containing scandium and 20,000 tons of aluminium alloy profiles.
This major development leverages the technical and market advantages of LB Group and Hunan Oriental Scandium Co., Ltd. in the global titanium and scandium sectors. It focuses particularly on supporting future industries such as vanadium flow batteries, vanadium-aluminium alloys, and scandium-containing high-performance aluminium alloys. The project aims to create a new growth engine for the region's economy.
LB Group, the lead investor through its subsidiary Hunan Oriental Scandium Co., Ltd., is a diversified industrial group specializing in the development and manufacturing of advanced materials such as titanium, zirconium, and lithium. A spokesperson from the company highlighted the company's technical expertise in vanadium and scandium extraction and its cost advantages due to vanadium-titanium magnetite resources, positioning it competitively in the market. The new industrial park will further complete Longbai Group's industrial chain, with applications of new materials extending to vanadium flow batteries and aluminium-scandium alloys.
The project is a key driver for LB Group's expansion into the renewable energy sector, especially in vanadium battery production, and will support the industrialization of vanadium-aluminium alloys in China. Additionally, the company's newly developed "7A48" high-performance aluminium alloy, targeted at the high-end industrial aluminium profile market, is expected to address markets worth billions of yuan.