Posco Chemical said on Thursday that it will build a new factory with OCT for an anode pitch factory.

The pair’s joint venture, called PNO Chemical and formed in July 2020, will build a factory with an annual capacity of 15,000 metric tonnes of the material.

Together they will spend 74.5 billion won. When the factory will start to be built and completed will be announced at a later date, Posco Chemical said.

Pitch is used to coat the surface of the anode to prevent them for expanding and increase battery life.

Posco Chemical said the pitch it plans to manufacture has a high melting point and is a carbon-based material.

South Korean battery makers previously imported the materials.

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