Camel Group to Raise Funds for Lithium-ion Battery Project

SHANGHAI, May 11 (SMM) – Camel group is proposed to collect less than 900 million yuan through a public offering, based on its announcement.

Of the funds, 550 million yuan will be used to construct 700 million Wh/yr motive lithium-ion battery production line. Construction of the project will take one year and the project will run 73.33% capacity in the first year after entering into service and run full capacity in the second year.

The remaining funds will be used to construct 150,000-tpy scrap lead-acid battery treatment project. 

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