On September 30th, Huayo Cobalt and Posco South Korea Joint Venture POSCO HY Clean Metal (Posco Huayu Recycling Korea Co., Ltd. officially started construction of Li Village Industrial Park in Guangyang City, Jeolla Nan do, South Korea.
In his speech, Zheng Changhua, head of the new growth department of POSCO Group, expressed warm congratulations on the launching of the foundation laying ceremony of the joint venture company, and put forward expectations and requirements for the joint venture company after it was completed and put into operation. The joint venture company is committed to the building of the lithium electrocycling ecological industrial chain and the construction of the green energy system, and firmly believes that with the sincere cooperation of the two companies, the joint venture project will become a new growth power source of POSCO Group in the future and another milestone for win-win cooperation.
Due to the epidemic, Fang Qixue, vice chairman and senior vice president of the group, expressed congratulations on the foundation laying ceremony of the joint venture company by online video and expressed high respect for the hard work of the employees of the joint venture company. President Fang said that the foundation laid by Posco Huayou Recycling Company has opened a new chapter in the production, operation, construction and development of the joint venture company, which means that the joint venture company has stood at a new starting point and embarked on a new journey. At the same time, it is hoped that the joint venture company will show its strong competitiveness in the fierce global market competition and make outstanding contributions to the development of the new energy lithium battery industry.
As chairman of the joint venture company, Bao Wei, assistant president of the group, congratulated the start of the joint venture project and hoped that the joint venture company would follow the excellent culture of Huayou Cobalt and Posco to become bigger and stronger and become a new force in the decommissioned battery recycling industry.
As key market participants in the global power battery industry chain, POSCO and Huayou have established a very good cooperative relationship in the fields of power battery precursors, cathode materials, nickel ore development and so on. On the basis of the previous cooperation between the two sides, this cooperation gives further play to the competitive advantages of POSCO in the global power battery field and Huayou's technical advantages in power battery smelting and recycling, expands the depth of cooperation between the two sides in the power battery industry chain, and is of far-reaching significance for consolidating the strategic cooperation between the two sides and promoting the development of the global power battery industry.
Song Xiangluo, director of Guangyang Economic and Trade Zone, Park Xuanzhi, vice mayor of Lishui, Xu Longzhu, president of GS Energy, Zhang Chengshi, special manager of LG Energy Solutions, POSCO HY Clean Metal representative Chi Yuhuang, and Huayou sent joint venture company COO Guo Silan, more than 50 people attended the groundbreaking ceremony.
POSCO HY Clean Metal (Posco Huayou Recycling Korea Co., Ltd.) is a joint venture between Huayou Cobalt and Posco in South Korea engaged in the recycling of decommissioned battery waste. The joint venture project has a total investment of 120 billion won, covers an area of 60000 square meters, and treats 12000 tons of battery black powder annually. The project is scheduled to be completed in the second half of 2022.
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