Huatong Cable's Electrolytic Aluminum Project in Africa to Commence Production by 2025

The company's first-phase 120,000 mt electrolytic aluminum project in Africa is expected to commence production by the end of 2025. Leveraging local hydropower resources, the profit per ton of aluminum will be higher than that in Yunnan. A neutral estimate indicates that the annual increase in profit will be equivalent to "rebuilding another Huatong." Meanwhile, the company has launched an equity incentive plan to bind core talents and set dual growth targets for performance assessment. Overseas business accounts for 67% of the total, with oil service consumables entering the global supply chain. Net profit is projected to increase by 128% in 2026.

According to public information, the first phase of Huatong Cable's electrolytic aluminum project in Angola commenced construction in June 2024 and is expected to commence production by the end of 2025. The project will be constructed in five phases with a total investment of approximately $1.6 billion. The first phase will have an annual production capacity of 120,000 mt of electrolytic aluminum.

On June 22, 2024, the groundbreaking ceremony for the first phase of Huatong's aluminum industrial park project in Angola was held in Bengo Province, Angola. Zhang Bin, the Chinese Ambassador to Angola, and Carlos Rodrigues, the Secretary of State for Industry of Angola's Ministry of Industry and Trade, attended the ceremony. Upon completion, the project will promote economic diversification and industrial development in Angola.