Chongyang County formally set up Vanadium Industry Group a few days ago, which symbolized that the vanadium industry in the county has made an important step in large scale, benefit and intensification development.
The newly organized Vanadium Group has taken Chongyang Vanadium Industry Company Limited as the parent company, and it has three subsidiary companies and nine joint stock companies. It has registered capital of 0.1 billion yuan, and the member companies’ projects are under construction. Joint venture between China and South Korea introduced Vanadium Industry Company with an annual capacity of 3000 tons of vanadium oxide production base having entered the trial stage. Vanadium battery project has signed a cooperation agreement with a Beijing company. The Vanadium Iron Industry and Trade Company which has put a new vanadium iron production line has completed five million yuan investment. The second and third production line of Jingyang Company Limited is to start construction.
According to the general plan of industry, the County is striving to create Chongyang vanadium industry as a key industry cluster with an annual output value of over 5 billion yuan and taxes over 3 billion yuan through five to eight years of hard work, to make Chongyang the largest vanadium product trading center and vanadium products production and processing base in China.