Invest 10 billion yuan! Midland New Materials plans to build a new energy and materials project with an annual output of 2.3 million tons

Midland New Materials announced on November 22 that on November 21, the company signed an investment attraction agreement with the government of Xuanhan County in Sichuan Province with an annual output of 2.3 million tons of new energy and polymer materials industrialization construction projects.

According to the announcement, in order to improve the industrial chain and realize the integrated layout of the industrial chain, Midland New Materials intends to increase its capital by 450 million yuan to its wholly-owned subsidiary Meilian New Materials (Sichuan) Co., Ltd. with its own or self-financing funds, and invest 10 billion yuan to build an "annual output of 2.3 million tons of new energy and polymer materials industrialization construction project" with this subsidiary as the main body for implementation.

The project is divided into three phases, of which the first phase is expected to invest 3 billion yuan to build an annual output of 900,000 tons of sulfuric acid plant, an annual output of 200,000 tons of titanium dioxide plant, an annual output of 300,000 tons of high-end plastic masterbatch, and 600,000 tons of ferrous sulfate; The second phase is expected to invest 4.5 billion yuan to build a sulfuric acid plant with an annual output of 1.2 million tons, a titanium dioxide plant with an annual output of 300,000 tons, an annual output of 500,000 tons of high-end plastic masterbatches and 900,000 tons of ferrous sulfate; The third phase is expected to invest 2.5 billion yuan to build a 1.5 billion square meter power lithium battery separator film production line. After all completed and put into operation, the annual output value is expected to be 16 billion yuan.

The construction period is 60 months. Among them, the construction period of the first phase is 30 months, and trial production is expected before the end of June 2025; The second phase of construction is 12 months, and trial production is expected before the end of June 2026; The third phase of construction is 18 months and is expected to be put into trial production by the end of 2027.

Midland New Materials said that the implementation of the project will expand the production capacity of the company's main products masterbatch and lithium battery wet separator, effectively reduce product costs, enrich the company's product series, and meet market demand to seize potential incremental business opportunities.