Chalco to Build Electrolytic Aluminum Plant in Saudi Arabia

Aluminum Corp of China (ACH.NYSE; 2600.HK; 601600.SH) signed a cooperation agreement with MMC of Malaysia and SBG Group of Saudi Arabia on November 24 to build an electrolytic aluminum plant with an annual capacity of one million tons in Saudi Arabia.

The project will involve a total investment of 3 billion US dollars, in which Chalco will invest 1.2 billion US dollars to take a 40 percent stake.

The whole project will be built in three phases by Chalco. Upon completion, Chalco will undertake the management work and part of the products will be sold back to China.

The Saudi Arabia government has promised to provide favorable energy supply for the venture.

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