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On February 9, MGL made an announcement that it is set to invest 929 million yuan in the construction of a project designed to produce 30,000 tonnes of lithium-ion battery cathode materials per year. This project will be implemented in two distinct phases. The initial phase will require an investment of 737 million yuan, while the subsequent phase will necessitate an additional 192 million yuan. Once fully operational, the project is projected to yield an annual output of 5,000 tonnes of high-voltage lithium cobalt oxide, 10,000 tonnes of NCA (Nickel-Cobalt-Aluminum) materials, and 15,000 tonnes of ultra-high nickel ternary materials. The financial resources for this endeavor will be a blend of the company's self-financing and funds raised from external sources, with a total construction timeline spanning 36 months.
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