Tramway remittance news: On the evening of June 23, Betterway announced that its wholly-owned subsidiary, Hong Kong Betterway, plans to cooperate with STELLAR INVESTMENT PTE. LTD.Established a joint venture company, Indonesia Beterui New EnergyMaterialCo., Ltd., invests in the development and construction of “annual output of 80,000 tons of new energy” in Indonesialithium batteryAnode material integration project”, with a total investment of about 478 million US dollars.
According to the announcement, the authorized capital at the time of the establishment of the joint venture company was 1 million US dollars, of which Hong Kong Beiterui subscribed for 600,000 US dollars, accounting for 60% of the total share capital; STELLAR subscribed for 400,000 US dollars, accounting for 40% of the total share capital.
Bettray also said that after the approval and filing procedures for overseas investment of the cooperation project in China are completed, the two parties will gradually increase the authorized capital of the joint venture company according to the progress of the capital needs of the cooperation project, and will increase the authorized capital of the joint venture company before the cooperation project is put into production. Increase to 35% of the total project investment, and complete the paid-in of all such authorized capital. For the remaining 65% of the funds, Hong Kong Bettray will be responsible for project financing with the joint venture company as the main borrower, and STELLAR should cooperate.
In terms of specific division of labor, STELLAR will assist in infrastructure, land, and project electricity consumption; sales will be unified by BETTER, and the products will be sold under the “BETTER” brand; however, the order contract should be signed directly by the customer and the joint venture company. , the joint venture is responsible for delivery. Under the same conditions, the production capacity of the joint venture will give priority to guarantee the procurement needs of STELLAR and its designated parties according to the proportion of equity held by STELLAR.
Berterry said that the company has a wealth ofLithium batteryPond anode material technology and resources, STELLAR company has rich experience in project construction and operation in Indonesia. This cooperation can give full play to their respective advantages and resources, further expand and serve the company’s overseas customers, increase the company’s market share of anode materials, and increase the company’s overall revenue in the future.
-END Tramway 2022/6/24
Original title : Bettary invests US$478 million in the construction of lithium battery materials project in Indonesia