Shinzoom (300037.SZ) has revealed its ambitious plan to channel US$260 million into the development of a lithium-ion battery materials project in Saudi Arabia. This investment will be carried out through its wholly-owned subsidiary, Capchem Middle East Company. The project site is strategically chosen to be in the Yanbu Heavy Industrial Area. Once completed, the project is anticipated to boast an impressive annual production capacity of 200,000 metric tons of carbonate solvents. Additionally, it will co-produce 100,000 metric tons of ethylene glycol. Alongside the main production facilities, the project will also encompass the construction of essential supporting utilities and state-of-the-art environmental protection facilities.

This strategic move by Shinzoom is aimed at bolstering its global production capacity footprint. By establishing a collaborative supply chain system overseas, the company seeks to not only solidify its presence in international markets but also to broaden its overseas market reach and diversify its channels for serving third-party customers.