Recently, Beijing Xinxing Heavy Industry Co., Ltd. and the Hubei Danjiangkou Municipal Government signed the "Investment Cooperation Agreement of the Xinxing Heavy Industry Danjiangkou Science and Technology Industrial Park Project" in Beijing to jointly develop the vanadium resources of Danjiangkou City. The total investment of Xinxing Heavy Industry Danjiangkou Science and Technology Industrial Park project is 1.7 billion yuan, which is divided into 4 phases. After the completion of the project in 2015, an industrial cluster will be formed for the processing of vanadium pentoxide, vanadium-iron, high-vanadium-iron, vanadium nitride, and vanadium batteries. The annual output value will be 5.5 billion yuan and the tax will be 550 million yuan.
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