BTR to invest $363.5 million in new anode materials plant in Morocco

BTR New Material Group, a Chinese battery materials manufacturer, will invest USD 363.5 million to build a plant in Morocco for the production of anode materials, according to Chinese media reports.

The Morocco plant, BTR’s second facility in the North African country, is expected to have an annual production capacity of 60,000 tons of anode materials, reports Yicai Global, citing a statement from the company on Tuesday.

The new plant will be constructed over two years at Mohammed VI Tangier Tech City.

In a separate statement, BTR’s largest shareholder, China Boan Group, announced that the project company will supply Ford Motor. The American multinational automobile is expected to sign a supply deal with BTR, including a prepayment of USD 120 million.

This will be BTR's second plant in Mohammed VI Tangier Tech City, following the earlier announcement this year of the construction of a cathode materials facility with a production capacity of 50,000 tons per year.