Chalco Announces its Stock Holding Position in Electrolyze Aluminum Project in Saudi Arabia

Xiao Yaqing, CEO of Chalco, says that the company will hold the majority stock in electrolyze aluminum project jointly invested by Saudi Arabia.

During the 17^th National People's Congress, Xiao Yaqing said, ¡°Currently the aluminum price is on the low side, but I have positive attitude at the aluminum price next year. Concerning electrolyze aluminum project in Saudi Arabia, we will absolutely hold the majority stock, but are unsure about the specific proportion.¡±

Along with Malaysia Energy Group and Binladin Group of Saudi Arabia, Chalco plans to construct electrolyze aluminum plant in Saudi Arabia aiming at annual production of 1 million tons with overall investment of 3 billion yuan. It is expected to start in the second half of next year.

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