Zhejian Hailiang announced on the evening of February 27 that it intends to jointly invest with its wholly-owned subsidiary Hong Kong Hailiang Holdings Co., Ltd. to establish a subsidiary in Indonesia—Indonesia Hailiang New Energy Materials Co., Ltd. (tentative name), of which Hong Kong Hailiang Holdings will hold 90% stake and Zhejian Hailiang owning the remaining 10%.
The project will have an annual capacity of 100,000 mt of high-performance copper foil and be constructed in two phases, each with 50,000 mt. The first phase of the project is planned to be completed in 2023-2025; the second phase of the project is planned to be completed in 2025-2027.
