Changsha, China Minmetals cooperate for new energy materials

Changsha municipal government will partner with China Minmetals Corporation (CMC), the country's largest metals trader, in building a new-energy materials demonstration base for mass entrepreneurship and innovation, according to a strategic agreement signed on April 18.

The base will combine innovative resources of government, enterprise and research institute, and integrate the innovation, industrial, fund and policy chains.

Changsha municipal government and China Minmetals Corporation (CMC) ink a framework agreement to set up a new energy materials demonstration base for mass entrepreneurship and innovation in Changsha, Central China's Hunan province. [Photo Zhou Boping/icswb.com]

Under the agreement, the base will include a research institute, a business incubator and an industrial park for new energy materials, depending on the resources of Changsha Research Institute of Mining and Metallurgy Co.

The incubation park has attracted more than 80 innovative enterprises, covering fields of advanced materials, energy-saving and environmental protection, test and detection.

A rendering of a research institute for new energy material to be set up in Changsha. [Photo/icswb.com]

Hu Henghua, secretary of the Changsha municipal Party committee, pledged at the signing agreement that the government will offer full support to the project, exert CMC's strength in scientific research, technology and finance as well as the government's advantages on space, industries and policies, and promote construction of industrial chain for advanced energy storage materials in Changsha.

With investment of 11 billion yuan ($1.75 billion), the industrial park will play a leading role in Changsha's 100-billion-yuan new energy material industry and propel coordinated development of upstream and downstream industries.

A rendering of the CMC incubator for new energy material industry. [Photo/icswb.com]

The first phase project of the park is slated to finish construction and go into production by the end of 2018. Upon completion, it is expected to generate an annual output of 100,000-ton new energy materials, with revenue of 20 billion yuan.

Meanwhile, a fund of mass entrepreneurship and innovation worth 1 billion yuan will be launched for the new energy material industry with the aim of transforming Changsha into a key city for new energy material innovation in the world.

CMC Chairman Tang Fuping said that the agreement marked a further move for the two parties to build an industrial cluster of new energy materials with global competitiveness.

CMC is China's largest multinational in metals and minerals trading, as well as the country's only state-owned metals and minerals trader. It is also largest metallurgical construction contractor and metallurgical operation and service provider.