PARIS, May 8, 2024 /PRNewswire/ -- In an interview with
Xinhuanet on May 5, Huang Changgeng,
the chairman of Xiamen Tungsten Co., Ltd. (XTC), revealed details
of the company's joint venture with the French Orano Group. Huang
stated that the partnership is a testament to the robust
integration of the Chinese and French battery sectors, enhancing
cooperation in green technologies between the two nations.
XTC, a publicly traded state-owned enterprise (SOE) in
Fujian Province, operates across
three strategic sectors: tungsten and molybdenum, rare earths, and
renewable energy materials. Twenty years ago, the company expanded
into the renewable energy materials sector, establishing facilities
to produce lithium cobalt, lithium manganese oxide, ternary
materials, and lithium iron phosphate. Notably, its subsidiary, XTC
New Energy, achieved a milestone when it was officially listed on
the Science and Technology Innovation Board of the Shanghai Stock
Exchange in August 2021.
Mr. Huang, speaking on the progress of XTC New Energy, described
the company's trajectory as a prime example of China's commitment to modernization and green
energy. He explained, "Currently, the renewable energy sector in
Europe is undergoing rapid
expansion, and China holds a
distinct advantage in the sector."
In May 2023, XTC New Energy forged
a partnership with France's Orano
Group, leading to the establishment of two joint ventures in the
northern French port city of Dunkirk. The project, with a total
investment of approximately 1.5 billion
euros, aims to establish production lines for lithium-ion
battery cathode materials, precursors, and battery recycling, with
the expectation of creating over 1,000 jobs in the near future.
Mr. Huang affirmed, "The collaboration with Orano is undoubtedly
a wise choice, as both parties possess complementary strengths. As
a leading player in battery materials in China, XTC pairs perfectly with Orano's
profound roots in France. The
partnership not only completes the French industrial chain, but
also marks a significant step for XTC in expanding into
Europe and beyond."
In discussing how the project aligns with the goals of the Belt
and Road initiative, Mr. Huang noted, "Investment projects, unlike
infrastructure projects, demand long-term commitments. Such
investments are highly welcomed by the local community as they
contribute significantly to local tax revenue, create employment
opportunities, and simultaneously generate profits, resulting in a
mutually beneficial outcome for all parties involved."
Mr. Huang also spoke on the global impact of China's rapid modernization. "Our work abroad
has given us greater insight into China's robust modernization efforts, which
are moving swiftly in step with current global trends and showing
tremendous vitality," he said. He further noted that the progress
in China's development model is
set to play a significant role in spurring a global economic
revival and opening up new opportunities across the globe.
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