SHANGHAI, Dec. 3 (SMM) – Shandong Nanshan Aluminium Co. is building a 14,000-tpy plant for making precision die forgings to cater for demand from China’s transportation and machinery equipment sectors.

Shandong Nanshan plans to spend 1.5 billion yuan ($245 million) with self-raised funds accounting for 37% and bank loans, the rest, it told Shanghai Stock Exchange today.

The plant is being built in Longkou city, Shandong province from November 2013 to October 2015, it said. Annual revenues from the plant upon completion are expected at 1.3 billion yuan, it added.