Luoyang Xiangjiang Wanji Aluminum Ltd Gets A Loan of 4.35 Billion Yuan

Representatives from Bank of China, Construction Bank of China, Industrial and Commercial Bank of China, Bank of Communications together with principals from Luoyang Xiangjiang Wanji Aluminum Ltd sign a loan agreement, stipulating that the four banks will loan 4.35 billion yuan to Wanji Aluminum for the production of 1.2 million ton alumina project.

Currently, the company has successfully completed the first phase of alumina project with total production of 400,000 ton, and also succeeded in its initial trial run. Then the second and third phase alumina project totaling 800,000 ton will be started recently and is expected to produce 1.2 million ton alumina annually after the completion in 2008, when China¡¯s alumina industry will form a reasonable layout, well-equipped, energy saving and environmentally-friendly industry chain, and finally develop into a vigorous and lively industry group west of Henan Province.

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