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the production of alumina goes up by 47% during three years in china.
- China Aluminium Network
- Post Time: 2007/3/14
- Click Amount: 818
The chairman and CEO of China Aluminum Industry Xiaoyaqin expected that the company would expend production through mergers and acquisitions and capital rejection after the A-share coming into the market. The goal is to increase the production of alumina to 13million tons in next 3 years, going up by 47% compared with 2006.
He also pointed out that after the completion of the A-share listing, the group will gradually inject assets, including 940,000 tons of original aluminum capital. The target productions of alumina and original aluminum are 10million tons and 2.48 million tons, which are up by 13% and 28% compared with them in 2006 respectively. Xiao showed that the group planed to inject aluminum processing plant and prepare 1.7 billion U.S dollars as acquisitions and expanding production. As for the mainland aluminum producers are the main acquisition targets, without overseas acquisition plans yet.
The expense of China Aluminum in 2007 and 2008 is 160 billion RMB and over 100 billion RMB respectively, including the production cost and the required funds. Xiao said that the price of alumina won’t be adjusted in the near future, following the increase in alumina price in early March, but still with the space for upward adjustment.
Original aluminum price is optimistic. Since the fast development of mainland economy and peak period of industrialization, so the consumption of aluminum increases rapidly and the price of it becomes higher and higher. Two taxes will be proposed merger in mainland next year, the income tax decreases from 33% to 25%. Xiao believed that this will affect about one to two percentage points, the effective tax rate was 26.18% last year.
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