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The construction on NEM's GBA production headquarters started on August 11 in the Gaoping Chemical Industrial Park in Sanjiao Town.

NEM, a high-tech enterprise based in Puyang City, Henan Province, will invest over 12 billion yuan in the project. Phase one of the project, which costs 6 billion yuan, is expected to achieve an output value of exceeding 10 billion yuan in the next five years.

At its full capacity, the NEM project will become the world's largest new energy and microelectronic materials production base by manufacturing 600,000 tons of new energy battery materials and 100,000 tons of ultra-clean, high-purity microelectronic materials per year.