DJ Chinalco To Invest Over CNY5B In Aluminum Alloys Plant-Report

State-owned Aluminum Corp. of China, or Chinalco, will invest over CNY5 billion in an aluminum alloys plant in Heilongjiang province, the South China Morning Post reported Friday, citing Chinalco.
Chinalco unit Northeast Light Alloy Co., the top supplier of aluminum alloys to the mainland China aviation and defense industries, started construction of the 200,000 metric ton a year factory this week, it said.

The factory will take three years to complete and is expected to generate an annual profit of CNY400 million and sales of CNY7 billion a year, the company said, according to the report.

Chinalco is China's biggest aluminum and alumina producer by output. It is the parent of Aluminum Corp. of China Ltd. (ACH), known as Chalco.

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