Hochtief AG (HOT.DE,1HOT.MI,HOCFF), a German provider of infrastructure technology and services, said on Wednesday that it has expanded its partnership with Vulcan Energy Resources Ltd. (VUL.DE,VUL.AX), a lithium and renewable energy company, to further develop lithium production and processing infrastructure.
Under the terms, Hochtief will invest EUR 169 million in Vulcan Energy, comprising a EUR 39 million investment in the Lionheart Project and a subscription of up to EUR 130 million in Vulcan shares.
Sedgman, a Hochtief company, and Hochtief Infrastructure will serve as the engineering, procurement, and construction management contractor for Vulcan's Lionheart project to deliver an end-to-end solution for the EUR 397 million lithium extraction plant and EUR 337 million central lithium plant.
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