June 14 (NBD) -- Chinese potassium fertilizer manufacturer Qinghai Salt Lake Industry Co Ltd (000792.SZ) is ramping up its production of battery-grade lithium carbonate.

The company will cooperate with Chinese automaker BYD Company Limited (002594.SZ) to set up a lithium carbonate project with a capacity of 30,000 tpa. Besides, its indirectly controlled subsidiary Qinghai Saltlake Fozhao Lake Lithium Co., will revamp its lithium carbonate devices to up production capacity to 30,000 tpa from the current 10,000 tpa.

The two projects have been approved in the general meeting of shareholders, the company said. Upon the completion of the projects, Qinghai Salt Lake will be able to produce 60,000 tons of lithium carbonates annually. 

Email: zhanglingxiao@nbd.com.cn