Xinlyu Shidai Approves Aluminum Recycling Project in Chongqing, Plans 80,000 mt Billet and 40,000 mt Profiles Capacity

Xinlyu Shidai announced that it had reviewed and approved the relevant proposals for the construction of the Xinlyu Shidai Aluminum Alloy Recycling Project in Qijiang, Chongqing. The project plans to build a capacity of 80,000 mt of high-end aluminum billet and 40,000 mt of extruded aluminum profiles.

The wholly-owned subsidiary Xinlyu Xunhuan had been established earlier, after which the company agreed to add the wholly-owned subsidiary Xinlyu Tecai as an investor and implementation entity for the project.

Recently, the company successfully obtained the state-owned construction land use right certificate for the project. The plot covers an area of 120,400.8 m², with a usage term until December 31, 2064. Subsequently, the certificate will be transferred to Xinlyu Tecai. Currently, the project is not expected to have a significant impact on the company’s performance in the short term.