The Canadian company RockTech Lithium wants to build a factory in Romania that will make components for electric car batteries.

The investment will amount to EUR 400 million, the Romanian Government announced, quoted by Economedia.ro.

On Monday (March 7), prime minister Nicolae Ciuca will attend the signing ceremony of the Memorandum of Understanding with RockTech Lithium.

Rock Tech Lithium was founded in 1996 and is a lithium development company based in Canada.

According to Reuters, the company intends to build a capacity to convert lithium hydroxide in Europe, which aims to turn the raw material of lithium from hard rock into a chemical commonly used in the battery industry.

The company has operations in Canada and Germany aimed at supplying lithium hydroxide to the automotive industry.

RockTech Lithium is listed on the TSX Venture and the Frankfurt Stock Exchange.

(Photo: Erchog | Dreamstime.com)

andrei@romania-insider.com