China Aluminum International proposes $988m EPC contract for Guinea alumina project

China Aluminum International Engineering has proposed a CNY 6.6 billion (USD 988 million) fixed-price engineering, procurement and construction (EPC) contract for an alumina project in Guinea’s Boffa region. The agreement has not yet been signed and requires approval from independent shareholders before it can proceed.

Under the proposed arrangement, China Aluminum International Engineering would undertake the project’s design and construction, while Chalco Guinea, a subsidiary of its controlling shareholder Chinalco, would act as the customer. The proposed contract requires approval from independent shareholders. 

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The contract is fixed-price, meaning the agreed value would not automatically increase if equipment, shipping or other project costs rise. Any additional costs could therefore affect the contractor’s profit margin.

Beside the Guinea project, the company outlined several other corporate transactions. It plans to transfer a 60 per cent stake in a subsidiary for CNY 100 million (USD 15 million).The company also plans to transfer another unit between its subsidiaries, reducing its effective ownership by 7.8 per cent while retaining indirect control. 

The company further plans to repurchase and cancel 323,400 restricted shares, representing approximately 0.0108 per cent of its total share capital.

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The Guinea EPC contract remains subject to independent shareholder approval and the signing of a formal agreement.

The proposed project comes as China’s reliance on imported bauxite continues to grow, with Guinea accounting for nearly 80 per cent of its supply in the first nine months of 2026. China imported 173.9 million tonnes of bauxite between January and September, up 10.3 per cent year on year. The nine-month import volume also exceeded China’s total bauxite imports of 158.8 million tonnes in 2024.