01 JULY 20144-Traders
CHALCO to form JV for alumina project
Edited by : AL CIRCLE
1 min read
Aluminum Corporation of China (CHALCO) said it entered into a joint venture agreement with Hangzhou Jinjiang Group Co., Ltd. to jointly establish Guizhou Huajin Aluminum Co., Ltd. with a registered capital of temporarily amounting to Rmb1 billion.
CHALCO and Jinjiang Group will contribute Rmb 600 million and Rmb 400 million. Upon the establishment of Huajin Aluminum, CHALCO and Jinjiang Group will hold 60% and 40% equity interest respectively in Huajin Aluminum.
The construction of Qingzhen Alumina Project involves an investment of about Rmb 3.8 billion, among which Rmb 1 billion will be financed by Huajin Aluminum by internal funds while the remaining investment will be made by Huajin Aluminum through the application of bank loans.
CHALCO and Jinjiang Group will contribute Rmb 600 million and Rmb 400 million. Upon the establishment of Huajin Aluminum, CHALCO and Jinjiang Group will hold 60% and 40% equity interest respectively in Huajin Aluminum.
The construction of Qingzhen Alumina Project involves an investment of about Rmb 3.8 billion, among which Rmb 1 billion will be financed by Huajin Aluminum by internal funds while the remaining investment will be made by Huajin Aluminum through the application of bank loans.
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