China Power sets up JV smelter in Ningxia

China Power Investment Corp, one of the Top 5 power producers in the country, has agreed to restructure Qingtongxia Aluminum and set up a joint venture smelter in Ningxia Hui Autonomous Region.

The JV, with a designed capacity of 33 million tons of coal and 1.66 million tons of electrolytic aluminum per year, will become China's second largest aluminum smelter after Chalco, sources reported. 

The new joint venture will have a registered capital of RMB 5 billion, in which 70% stake will be owned by China Power, and the rest will be held by the State-owned Assets Supervision and Administration Commission of Ningxia.

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