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China nonferrous metal industry won CNY 6 billion contract
Edited by : AL CIRCLE
1 min read
It is reported that China Nonferrous Metal Industry Foreign Engineering and Construction signed contracts worth CNY 5.959 billion to build an aluminum plant for Iran Khuzestan Aluminum Company.
NFC will build a 175,000 tonne aluminum plant for Khuzestan Aluminum and will also offer engineering design, equipment procurement, construction, equipment installation, testing and staff training services.
The Tehran based aluminum manufacturer will pay 15% of the contract amount to NFC as a prepayment. The remaining sum will be paid as construction progresses and the plant will be completed over a 42 month period.
The contract also stipulates that Khuzestan Aluminum must sign a financing agreement with a mainland Chinese bank and provide a letter of credit to NFC. The latter said it is uncertain if the contract will be effective.
NFC will build a 175,000 tonne aluminum plant for Khuzestan Aluminum and will also offer engineering design, equipment procurement, construction, equipment installation, testing and staff training services.
The Tehran based aluminum manufacturer will pay 15% of the contract amount to NFC as a prepayment. The remaining sum will be paid as construction progresses and the plant will be completed over a 42 month period.
The contract also stipulates that Khuzestan Aluminum must sign a financing agreement with a mainland Chinese bank and provide a letter of credit to NFC. The latter said it is uncertain if the contract will be effective.
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