GreatStar Group commences construction of rare earth magnetic material industrial project in Mianyang
2022-08-02 15:56:42 [Print]
On the morning of July 29 in Mianyang, Sichuan, GreatStar Group held a groundbreaking ceremony for its rare earth magnetic material industrial project, which is expected to help advance and consummate local rare earth magnetic material industrial chain in the future.
As the biggest investment (RMB28 million, about USD4.14 billion) project that Mianyang absorbed so far this year, the project will be a three-phase 100,000tpy high-performance sintered NdFeB magnetic material industrial park to be located in Mianyang high-tech development zone. Phase one, with an investment of RMB3.2 billion (USD0.47 billion) and land area of around 800 Mu (around 53.33 hectares), will be composed of six R&D platforms, including China Southwest Rare Earth Research Institute, rare earth technological innovation center, rare earth magnetic material innovation center and rare earth magnetic motor innovation center. Phase one will have a construction cycle of 17 months and is expected to achieve partial production in Q1 2023 and nameplate production in Q4 2023.
As the biggest investment (RMB28 million, about USD4.14 billion) project that Mianyang absorbed so far this year, the project will be a three-phase 100,000tpy high-performance sintered NdFeB magnetic material industrial park to be located in Mianyang high-tech development zone. Phase one, with an investment of RMB3.2 billion (USD0.47 billion) and land area of around 800 Mu (around 53.33 hectares), will be composed of six R&D platforms, including China Southwest Rare Earth Research Institute, rare earth technological innovation center, rare earth magnetic material innovation center and rare earth magnetic motor innovation center. Phase one will have a construction cycle of 17 months and is expected to achieve partial production in Q1 2023 and nameplate production in Q4 2023.
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