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11 JANUARY 2018 AL CIRCLE

Altech submits manufacturing licence application for its high purity alumina plant

EDITED BY : HEENA IQBAL 1MINS READ

Altech Chemicals Limited has submitted a manufacturing licence application to the Malaysian Investment Development Authority (MIDA) for 4,500 tonnes high purity alumina (HPA) plant in Malaysia.

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The high purity alumina project represents an investment of approximately 1.2 billion ringgit. The plant will produce HPA directly from kaolin clay, which will be sourced from the Company’s 100%-owned kaolin deposit at Meckering, Western Australia.

“Application has also been made to MIDA for the HPA project to be afforded “Pioneer Status” (High Technology) investment incentive classification. A project approved as Pioneer Status (High Technology) will benefit from income tax exemption of 100% of its statutory income for a period of 5 years from the commencement of commercial production, according to Altech press release.

Altech has been liaising with MIDA about its proposed HPA project since 2015 and recently finalised the applications.


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EDITED BY : HEENA IQBAL 1MINS READ

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