The signing ceremony of a new energy battery material project invested by Shanghai Greatpower Technology Co Ltd was recently held in Rudong Economic Development Zone.

With an investment valued at 2 billion yuan ($306 million), the project is planned to cover 12.6 hectares of land and generate an annual output value of 2 billion yuan after coming into production.

As one of the outstanding suppliers of Lithium battery raw materials to 2020 China, Greatpower Group will help the development zone attract more domestic and international leading enterprises and boost the concentrated development of upstream and downstream companies to form a more complete industrial chain.

A representative of the Rudong Economic Development Zone hoped that Greatpower Group will give full play to its advantages in technology, innovation capacity and marketing to accelerate the preparatory work that will ensure the project starts by March 2021 and becomes a new growth point of Rudong's high-quality development.