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Xingfa Group has made public its intention for its wholly-owned entity, Inner Mongolia Xingfa Technology Co., Ltd., to embark on a substantial investment of 1.381 billion yuan. This investment is earmarked for the construction of a cutting-edge facility capable of producing 100,000 tons of battery-grade lithium iron phosphate annually. The project will be situated in the Wuda Industrial Park, nestled within the Economic Development Zone of Wuhai City, Inner Mongolia. With an anticipated construction timeline of just 6 months, the project will leverage a combination of the company's own funds and bank loans to finance its development. Presently, the project has successfully navigated through the initial approval stages, securing essential clearances such as project filing, land use planning permits, energy assessments, and environmental impact evaluations.
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