Titanium Energy Chemical plans to invest RMB 11 billion in a titanium dioxide and iron phosphate project.

Chempricehub, August 12: Titanium Energy Chemical announced that its board of directors plans to invest a total of approximately RMB 11 billion. The plan includes: first, a capital increase of RMB 260 million in its controlling subsidiary Guizhou Zhonghe Phosphating Co., Ltd., to construct a project with an annual output of 400,000 tons of titanium dioxide and 1.4 million tons of ferrous sulfate heptahydrate, with an investment of RMB 5.538 billion; second, a new 600,000-ton iron phosphate project to be built by its wholly-owned subsidiary Gansu Oriental Titanium Co., Ltd., with an investment of RMB 5.462 billion. The above investments do not constitute related-party transactions or major asset restructuring, and do not require deliberation at the shareholders' meeting.