SHANGHAI, Jun. 28 (SMM) – China Hongqiao Group will spend 2.12 billion yuan ($319 million) in acquiring all stake in one Chinese alumina producer, aastocks. com reported. 

The alumina producer to be acquired, namely Binzhou Beihai Xinhe New Materials Co., now has designed annual alumina capacity at 2 million tonnes and 240-megawatt power generating units. 

The move will help improve China Hongqiao Group’s raw material and power self-sufficiency.        

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