News Column

Chalco, Jinjiang to Establish JV for Alumina Project

June 30, 2014

BEIJING, June 30, SinoCast -- Aluminum Corp. of China Ltd. (Chalco and SHSE: 601600) plans to invest in alumina project of Chalco Guizhou in Qingzhen city. It also plans to establish Guizhou Huajin Aluminum with Hangzhou Jinjiang Group. Registered capital of the JV as operator of the project is CNY 1 billion initially. Chalco and Jinjiang Group will control a 60% and 40% stake in it with investment of CNY 600 million and CNY 400 million, each.

Investment in the project is about CNY 3.8 billion, including CNY 1 billion self-financed one and CNY 2.8 billion bank loans. Chalco will inject CNY 600 million in Huajin Aluminum with self-owned capital.

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Source: Sinocast Metals, Mining & Chemicals Beat (China)

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