High hopes placed on Xinhu Science and Technology's new project

The Xinghu Science and Technology pointed out that the high-precision aluminum sheet and strip project will become the major source of the company's futue profits.

According to the early report the Xinghu Science and Technology, the company decided to set up a 100000 tons high-precision aluminum sheet project with the Canton New Foreign Trade Group Co., Ltd. and Guangdong Huanan Copper and Aluminium Company with the total investment of 523.3 million yuan. The total investment of the project would account for 1030 million yuan, of which the company accounted for 51% of cash injection. While, the investment would be divided into several terms according to the company's own capacity and the market situation. In addition, the Canton New Foreign Trade Group Co., Ltd. would take up 19% of the investment with 195.7milliom yuan in cash, and Guangdong Huanan Copper and Aluminium Company would take up the other 30% with the investment of 309million yuan in cash.

The new project will be used to produce the PS plate and strip as well as the No 5 series of plate and strip products. With abundant raw material supply from the Canton New Foreign Trade Group Co., Ltd and rich experience in foreign trade, the project are placed high hopes.

Withal, the construction of the project would costs 3 year, which prolonged the earnings to 2012.

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