Over $3 bln aluminium alloy cable base to settle in Guangxi

China’s Guangxi province will begin building 20 billion yuan ($3.1 billion) worth of rare earth high-Fe aluminium alloy cable new materials industry base in H1 2016, said a recent industry report.

Hebei’s Joy Sense Cable Co., Guangxi’s Zhongma Qinzhou Industry Park Management Commission, and Guangxi Investment Group signed a cooperation agreement on March 6 over joint construction of the industry base in Zhongma Qinzhou Industry Park, Guangxi.

Under the agreement, investment for first phase of the project will be about 5 billion yuan, which promises to yield about 20 billion yuan in output value, the report noted.

Replacing copper with aluminium in power cable industry will become a trend in the future, which will present great market potential.

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