Posted on 09 Jun 2025
Chinese anode materials company Hunan Zhongke Electric will invest CNY 8 billion ($1.11 billion) in a 200,000-tonne anode materials project in Oman, Kallanish learns.
The project will be developed in two plants of 100,000 tonnes/year, with construction expected to be completed within 36 months. Although the investment proposal was approved by Zhongke Electric’s board, it remains subject to approval from Chinese authorities.
According to a stock exchange filing, Zhongke Electric will set up a new subsidiary in Hong Kong, Zhongke Shinzoom HK, to oversee a new project company to be named Zhongke Shinzoom Suhar New Materials Technology. The local subsidiary will build the first manufacturing base in the Sohar free trade zone, on leased land with an area of 356,000 square metres.
The company says that the site for the project’s second plant is yet to be determined and is subject to final approval. It notes that the first part of the project will be implemented in different phases and responding to market conditions. The development timeline will also be subject to government approvals and finance, it adds.
The plan is for the Chinese firm to finance up to $1.1 billion through self-owned funds and others, including bank project loans and strategic partners.
“This project is in line with the company’s strategic development plan and has been fully risk assessed,” says Zhongke Electric. “It will be beneficial for the company to improve its overseas production capacity layout, effectively meet demand from its downstream customers… and help the company seize market opportunities in the global lithium battery supply chain.”
Despite its goal to grow its global market share, the company announced it had decided to delay its 100,000-tonne anode project in Morocco after a review. The reason behind the decision is unclear.
Source:Kallanish
