Hanwha Chemical to build rechargeable battery part plant

By Nam Kwang-sik
SEOUL, Nov. 25 (Yonhap) -- Hanwha Chemical Corp., a South Korean chemicals maker,
said Wednesday that it plans to build a plant to produce a key part for
rechargeable batteries in the southeastern area of the country by October 2010.
The plant will have an annual production capacity of 600 tons of LFP or LiFePO4,
which can produce rechargeable batteries to provide power to about 120,000 hybrid
electric vehicles (HEV), Hanwha Chemical said.
The plant will be built in Ulsan, an industrial city about 400 kilometers
southeast of Seoul.
HEVs are vehicles powered simultaneously by batteries and fuel to achieve better
fuel economy than a conventional car.
The annual production capacity of the plant will be increased to 12,000 tons by
2015, the company said, adding that production will start three months after the
plant is completed.
Hanwha Chemical also said it will spend a total of 300 billion won (US$259
million) to carry out the project.
Hanwha predicts that the LFP market will grow to more than 700 billion won in 2020.
ksnam@yna.co.kr
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