Pangang Group Vanadium & Titanium To Raise No More Than RMB2.28 Billion

Pangang Group Vanadium & Titanium announced on September 6th that it will raise no more than RMB2.28 billion (USD327.13 million) through private placement. All the funds will be used in Pangang’s 60,000tpy molten salt chlorination titanium dioxide project, Panzhihua Vanadium Plant’s vanadium pentoxide quality-improvement and upgrading project, Pangang Group Vanadium & Titanium’s digital transformation and upgrading project, Pangang Group Xichang Vanadium Product Technology’s intelligent plant construction project, Pangang Group Chongqing Titanium Industry’s automated upgrading construction project, the industrialized manufacturing, application and R&D project of vanadium battery electrolyte, the R&D project for the manufacturing chloride titanium by carbonized blast furnace slag and to supplement working capitals.