INNUOVO plans to invest approximately 424 million yuan to implement an annual production expansion project of 5,000 tons of sintered neodymium-iron-boron
INNUOVO's wholly-owned subsidiary Dongyang Dongci plans to invest approximately 424 million yuan to construct an expansion project for the annual production of 5,000 tons of sintered neodymium-iron-boron. The project is located in Dongyang City, Jinhua City, Zhejiang Province, and the construction includes factory renovation, new production lines, and additional testing equipment. Upon completion, the project will add an annual production capacity of 5,000 tons of sintered neodymium-iron-boron magnets
According to the announcement from INNUOVO (000795.SZ), the company's wholly-owned subsidiary Zhejiang Dongyang Dongci Rare Earth Co., Ltd. (referred to as "Dongyang Dongci") plans to invest in the construction of a sintered neodymium iron boron expansion project with an annual production capacity of 5,000 tons, with a total estimated investment of approximately 424 million yuan. The project will be implemented at No. 33 Kexing Road, Hengdian Town, Dongyang City, Jinhua City, Zhejiang Province, and the construction content includes: factory renovation, new production lines, and additional testing equipment. Upon completion, the project will add a production capacity of 5,000 tons of sintered neodymium iron boron magnets annually
