ALCHA Plans to Build 200 thousand tons Aluminum Plate Project

(China Aluminum Network) ALCHA (002160) has signed the cooperation letter of intent with KOBELCO plans to build a JV in Baotou City with 2 billion yuan registered capital and 3.3 billion yuan for the investment of equipments, while 20% and 80% shares for ALCHA and KOBELCO respectively. The JV mainly produce and sell aluminum plate and aluminum strip that used in automobiles and aluminium pots. The annual production capacity may about 200 thousand tons and expected to start building in 2013, then in 2015 will go into operation. According to the letter of intent both sides may aim to expand their market share in China and proceed career cooperation.

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