China's Chalco, Jinjiang ink JV to build 800,000 mt/year Qingzhen alumina plant

Aluminum Corporation of China, or Chalco, and Jinjiang Group have set up a joint venture company, Huajin Aluminum, to build an alumina plant in Baiyun District of southwest China's Guizhou province, the company said late Friday.

The Qingzhen Alumina Project, comprising the 800,000 mt/year alumina plant, will take 12 months to complete. In addition to the alumina plant, the JV would also deal with trading of bauxite, refined aluminum and other aluminum products, Chalco said.

Chalco will hold a 60% stake in the JV while Jinjiang will hold 40%, Chalco said in a filing to the Hong Kong stock exchange. Under the deal inked June 27, Chalco and Jinjiang agreed to pay Yuan 600 million and Yuan 400 million, respectively, to form the JV, which will build and operate the alumina plant in Qingzhen county of Guiyang City.

The project will cost around Yuan 3.8 billion ($608 million).

Chalco said it had proposed to build the alumina plant in Qingzhen as the county has abundant bauxite resources, better traffic conditions and comprehensive infrastructure, which are fundamental requirements for alumina development.

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