Shenhuo Group to invest 3.6 billion on aluminium foil project in Henan

As reported by SMM, Shenhuo Group signed a deal with Shangqiu Urban-Rural Integration demonstration Zone Management Commission on August 17, to construct a high-end aluminium foil project in the city.

Henan Shenhuo Group Co., Ltd. is an integrated commodity producer, which, together with its subsidiaries, produces primary aluminium as well as, aluminium foil, prebaked anode and cast aluminium alloy ingots. The company also engages in coal mining; power generation; coke production; cotton yarn milling; and product processing businesses in China.

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The project involves a total investment at RMB 3.6 billion and is expected to a designated annual capacity of 100,000 tonnes of high-end light gauge aluminium foil. Over 80% of products from the project will be exported to Europe and the US, despite the fact that the US has imposed tax on aluminium foil imported from China. The project indicates the importance of the US and Europe market for Chinese aluminium product manufacturers.