China Export & Credit Insurance Corporation (SINOSURE) has underwritten the Africa New Energy Material Base Project with a coverage amount of 285 million US dollars.

Recently, the financing for the 40,000 ton nickel-based materials production line project of Zhongwei New Materials Co., Ltd., underwritten by Sinosure, has been completed in Morocco, marking the successful landing of the first new energy materials base project in Africa underwritten by Sinosure. It is reported that once the base is fully operational, it will have an annual production capacity of 120,000 tons of nickel-based materials, with products mainly exported to North Africa, Europe, and the United States markets, providing materials for nearly a million new energy vehicles. This 40,000 ton nickel-based materials production line project that is now in operation is the first investment project of a Chinese new energy materials company on the African continent.