Aluminium International Today
Chalco plots Xinjiang smelter
Edited by : AL CIRCLE
1 min read
Jiaozuo Wanfang Aluminum Manufacturing and the Aluminum Corporation of China (Chalco) are to spend RMB2.85bn ($452,5M) on a coal/electricity aluminium smelter in Xinjiang Province’s Shanshan County.
The money will be used by Chalco subsidiary Xinjiang Aluminum & Power Corp, which was set up in the northwest province in August last year. Jiaozuo will invest RMB1.014bn ($160.4M) and Chalco RMB1.884bn ($285.8M) holding 35% and 65% respectively.
Xinjiang Aluminum & Power Corp is engaged in the production of bauxite, minerals, metallurgical products, carbon products and is involved in the power generation businesses.
The capital injection will boost Chalco Xinjiang's registered capital to about RMB2.9bn ($460.5M).
The proposed project will help ported to be able to help Jiaozuo Aluminum improve its profitability as energy costs are high. Shanshan County is abundant with coal resources and has one of the largest open-pit coal fields in Xinjiang.
The money will be used by Chalco subsidiary Xinjiang Aluminum & Power Corp, which was set up in the northwest province in August last year. Jiaozuo will invest RMB1.014bn ($160.4M) and Chalco RMB1.884bn ($285.8M) holding 35% and 65% respectively.
Xinjiang Aluminum & Power Corp is engaged in the production of bauxite, minerals, metallurgical products, carbon products and is involved in the power generation businesses.
The capital injection will boost Chalco Xinjiang's registered capital to about RMB2.9bn ($460.5M).
The proposed project will help ported to be able to help Jiaozuo Aluminum improve its profitability as energy costs are high. Shanshan County is abundant with coal resources and has one of the largest open-pit coal fields in Xinjiang.
Previous article
West Virginia Gov marking tax to reopen Century aluminum plant
Next articleHalt to Uzbek gas supply hits Tajikistan
Grow with
AL Circle
_md.webp)
