Chinese Firms to Build High-End Titanium Alloy Plant in Sichuan Province

In a significant move to bolster China's titanium industry, Henan Central Source Titanium Industry is teaming up with state-owned Pangang Group Xichang New Steel to develop a cutting-edge titanium mill and titanium alloy material project in Xichang city, Sichuan province. This joint venture, named Sichuan Panjin New Material, will see Henan Central Source holding a majority 66% stake, with Pangang Group Xichang New Steel retaining the remaining 34%.

The ambitious project, aimed at producing high-end titanium alloy materials, is set to have an annual production capacity of 40,000 tons. With a total investment of approximately 700 million yuan ($97 million), the project will be executed in two phases. The first phase, designed to achieve a production capacity of 20,000 tons per year, is expected to be completed within 12 months. The second phase, mirroring the capacity and timeframe of the first, will follow suit. Specific details regarding the construction timeline and launch dates for each phase remain undisclosed by the partners.

Henan Central Source, established in January 2023, has a registered capital of 250 million yuan. The company is supported by key stakeholders, including Chinese stainless steel producer Zhejiang Yongjin Metal Technology with a 51% share, LB Group with 20%, Guizhou Aviation Technical Development with 10%, and Huihong Taijin Science and Technology holding 19%.

This partnership represents a strategic effort to enhance the production capabilities and global competitiveness of China’s titanium industry, addressing the growing demand for high-quality titanium alloy materials in various high-tech sectors.