Chalco to add 100,000-ton alumina capacity

Aluminum Corp of China Co Ltd (Chalco)<601600><2600><ACH>, the country's largest aluminum producer, Monday announced its 55%-owned unit Huayu Aluminum has signed an agreement with Huasheng Jiangquan Group to build an aluminum smelter in Shandong Province, market sources reported.

The plant, located at Linyi City and already under construction, is designed to have an annual capacity of 100,000 tons and scheduled to be operational in December this year, according to Chalco's filing with the Hong Kong Stock Exchange.

The total investment of the new plant will be RMB 420.09 million.

Upon the completion, Chalco's primary aluminum production capacity is expected to increase 100,000 tons.

The Chinese company said earlier that it would cut its output or partly suspend production in its facilities in Shandong, Henan, Liaoning and Inner Mongolia from Oct. 22, by 720,000 tons, due to the sharply decreased prices of aluminum and weakening demand.

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