(Yicai) Aug. 14 -- BTR New Material Group said the Chinese battery materials maker will invest CNY2.6 billion (USD363.5 million) to build a plant in Morocco that will turn out anode materials. Ford Motor is expected to sign a supply deal and make a prepayment of USD120 million.

BTR will set up a project company in the North African country to invest in and build the plant, which will have an annual production capacity of 60,000 tons of anode materials, the Shenzhen-based firm said late yesterday.

Located in Mohammed VI Tangier Tech City, the plant will take about two years to construct.

BTR did not mention any potential clients for the new plant, but its largest shareholder China Boan Group said in a separate statement yesterday that the project company will sign supply and prepayment deals with US auto giant Ford. It did not disclose any other details.

This will be BTR's second plant in Mohammed VI Tangier, after it allied with an equity investment fund late last year to build a CNY3.5 billion cathode materials facility. Construction work on the 50,000-ton-a-year plant started in April.

Besides plants in China, BTR is also building a production base in Indonesia to make 80,000 tons of anode materials a year, an executive said earlier this year. The company led the global anode materials market with a share of about 22 percent last year.

Shares of BTR [BJE: 835185] finished 1.1 percent lower at CNY16.84 (USD2.36) each in Beijing today. Baoan [SHE: 000009] fell 3.2 percent to CNY7.90 (USD1.11) in Shenzhen.

Editor: Martin Kadiev