SHANGHAI, Sept.12(CBI China) -- On September 9th, CHALCO Northeast Light Alloy Company held the foundation laying ceremony for its new aluminum alloy plate and strip production line project located in Harbin, Heilongjiang province. CHALCO will invest RMB 1.5 billion in this project, which will become its aluminum processing base in Northeast China. Total investment is more than RMB 5 billion, is expected to take three years, and will include 50kt of capacity for a wide and thick plate production line, and 150kt of capacity for a strip production line. The major products from the project include aluminum alloy thick plates, thin plates, bimetal composite thin plates. CHALCO is now the second largest alumina producer and third largest refined aluminum producer in the world, with five aluminum processing bases throughout China.
CBI believes CHALCO's investment in the Northeast Light Alloy Company will optimize its industrial supply chain, as Northeast Light Alloy has a long history and holds its own significant position in China's aluminum processing industry. The new 50kt wide-and-thick-plate project is one of three major domestic medium-heavy plate projects in China, which will fill a vacancy in domestic markets. CHALCO's investment also enhances development of its five domestic aluminum processing bases. According to CBI sources, the five bases will realize integration of supply and sales before the end of 2008. CHALCO will also intensify its investment in processing capacity in order to play a leading role in China's aluminum processing industry.
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