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A Contract Signed for Jointly Building a New Energy Battery Material Base in the Pan-Atlantic Region by CNGR and Al Mada Group

2023-09-18 Pageviews:5296

  Recently,CNGR and Al Mada,one of the largest private investment funds in Africa,signed a cooperation agreement in Casablanca,Morocco.The two sides will establish a joint venture in Morocco to jointly build an integrated industrial base integrating ternary precursors,lithium iron phosphate and waste battery recycling,so as to meet the fast-growing strong demand for new energy automobiles in Europe and the United States.

  China-Morocco Cooperation to Build a New Energy Battery Material Base in the Pan-Atlantic Region

  Based on the two sides'conviction of the importance of electrification in coping with the key challenge of global climate change and the highly consistent corporate vision and mission,CNGR and Al Mada started cooperation to jointly build an integrated new energy battery material base and produce zero-waste,low-carbon and recyclable new energy battery materials,so as to accelerate the transformation of the global energy structure towards sustainable and green energy.

  According to the agreement,both parties will jointly build production lines for nickel-based materials,phosphorus-based materials and recycled battery materials with high standards.The project will commence in 2023 and is expected to be put into operation in batches in the fourth quarter of 2024.After completion,it can provide battery materials for more than 1 million electric automobiles every year.

  It is reported that the industrial base is located in the Jorf Lasfar Park near the OCP Group Park in El Jadida,Morocco.Relying on geographical advantages such as ports and transportation,it provides export convenience for new energy battery materials produced by it.The strategic location and relatively complete industrial infrastructure of Jorf Lasfar will provide good conditions for the construction and production of the project,helping it take a favorable position in the fierce competition of global battery materials and build an advanced new energy battery material industry base in the world and pan-Atlantic region.

  Strong Alliance to Build a Green,Circular and Complete New Energy Automobile Industry Chain

  Based on Morocco's good automobile industry foundation,in order to continuously maintain the dominant position in the global automobile industry,as the undertaker of the key new energy battery material project introduced by Morocco,the joint venture is negotiating for cooperation with OCP Group,a leader in the global phosphate and fertilizer markets,to provide battery-grade phosphate materials for the production of LFP cathodes for the project and other industrial elements for the operation of the new base.

  As one of the important drivers of Morocco's economy,Al Mada Group has put corporate responsibility at the core of its mission by developing projects with high value creation potential based on the"Positive Impact"concept and the long-term investment philosophy.Al Mada Group signed a contract with CNGR for cooperation this time,and the two sides will give full play to their respective advantages,help enhance Africa's influence in the global new energy industry and make more positive impacts on tackling global climate change.

  Based on the highly consistent concept and development goals,the joint venture will strive to ensure responsible and sustainable production,focus on green energy,make full use of Morocco's advantageous resources,open up a new channel from resources access to battery material manufacturing,build a world-class battery material ecosystem,and help establish a complete new energy automobile industry chain of"battery raw materials-precursors-cathode materials-batteries-vehicles-battery recycling".
  The Belt and Road Initiative Facilitating Friendly Exchanges between the Two Countries

  This year marks the 65th anniversary of China-Morocco diplomatic relations and the 10th anniversary of the Belt and Road Initiative.In 2017,Morocco and China signed a memorandum of understanding on jointly promoting the Belt and Road Initiative.In January 2022,Morocco signed a cooperation plan with China for jointly promoting the Belt and Road Initiative,becoming the first country in North Africa signing such a cooperation plan with China.

  The joint venture project is an important measure taken by CNGR to actively promote the Belt and Road Initiative,which will further deepen China-Morocco economic and trade cooperation and friendly exchanges.It is also a tribute to the 65th anniversary of China-Morocco diplomatic relations and the 10th anniversary of the Belt and Road Initiative.

  In Changsha,a node city of the Belt and Road Initiative in China,Guangxi Zhuang Autonomous Region,a key province along the Belt and Road,as well as Indonesia,the Republic of Korea and Morocco along the Belt and Road overseas,CNGR established industrial bases to deepen the joint promotion of the Belt and Road Initiative,continuously build a dual circulation pattern at home and abroad,accelerate the implementation of the"development globalization"strategy,better meet the fast-growing demand for new energy battery materials overseas,and serve the global market.
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