The groundbreaking ceremony is held for the Zhejiang Shidai Lithium Materials International Industrial Cooperation Park project (phase I). [Photo/zjol.com.cn]

The groundbreaking ceremony of the Zhejiang Shidai Lithium Materials International Industrial Cooperation Park project (phase I) was held in Quzhou Smart Manufacturing New City on July 18.

It reportedly marked the start of the project with the largest amount of investment in Quzhou city – located in East China's Zhejiang province – and a new round of high-quality industrial development in the region.

The project is reportedly divided into seven sections – including sections for new-energy lithium materials, battery-grade nickel sulfates and new power batteries.

"The establishment of Zhejiang Shidai Lithium Materials International Industrial Cooperation Park is conducive to the further integration of materials for lithium batteries industry in our city. It will drive the transformation and upgrading of the whole industry supply chain for key raw materials for lithium batteries," said a senior official at Quzhou Smart New City.