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China's Bosai group to invest $1 billion in Indonesia
Edited by : AL CIRCLE
2 min read
China’s private mining group Bosai plans to invest $1 billion to build an alumina plant in Indonesia after the Southeast Asian country implemented a series of policies to restrict raw material exports.
The company has reached an initial agreement with Indonesian parties to build a 2 million tpy alumina plant on an island with abundant bauxite resources, its general secretary, Zhang Yonghua, was quoted as saying.
Based in southwest China city Chongqing, Bosai's products enjoy markets of more than 30 countries and regions in the world and both calcined bauxite and brown fused alumina are proudly ranked No. 1 in the global market.
The plant is expected to put into production in 2 years. Currently more than 80% of bauxite supply in China relies on exports from Indonesia. The latter , however in recent has issued a series of new trade policies to restrict raw material exports.
In May 2012, the government slapped a 20 percent tax on metal ore exports and a complete ban on mineral exports is now scheduled to take effect in 2014. As many as 14 resources are involved in the ban list, bauxite included.
The upcoming shortage of raw material has finally led to the desicion to set up a plant in local.The project is expected to sign the contract by the end of this month.
The company has reached an initial agreement with Indonesian parties to build a 2 million tpy alumina plant on an island with abundant bauxite resources, its general secretary, Zhang Yonghua, was quoted as saying.
Based in southwest China city Chongqing, Bosai's products enjoy markets of more than 30 countries and regions in the world and both calcined bauxite and brown fused alumina are proudly ranked No. 1 in the global market.
The plant is expected to put into production in 2 years. Currently more than 80% of bauxite supply in China relies on exports from Indonesia. The latter , however in recent has issued a series of new trade policies to restrict raw material exports.
In May 2012, the government slapped a 20 percent tax on metal ore exports and a complete ban on mineral exports is now scheduled to take effect in 2014. As many as 14 resources are involved in the ban list, bauxite included.
The upcoming shortage of raw material has finally led to the desicion to set up a plant in local.The project is expected to sign the contract by the end of this month.
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