Chinalco plans to contribute 1.02 billion yuan to jointly set up a Chinalco green low-carbon fund.

Published: Dec 22, 2021 10:57

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[Chinalco plans to contribute 1.02 billion yuan to jointly set up Chinalco Green low carbon Fund] on December 21, Chinalco announced that Chinalco would contribute RMB 1.02 billion in cash as a partner to set up Chinalco Suihe Nonferrous Metal Green low carbon Innovation and Development Fund (Beijing) Partnership (limited partnership) (provisional name, hereinafter referred to as "Chinalco Green low carbon Fund"). The overall size of the fund is 6 billion yuan, with an investment of 2.988 billion yuan from Agricultural Bank of China, accounting for 49.8% of the total. Aluminum Corporation of China contributed 1.02 billion yuan, and Chinalco Capital Holdings contributed 1.008 billion yuan.

On December 21, Chinalco issued an announcement on its intention to participate in the establishment of a green low-carbon fund for Chinalco. According to the announcement, Chinalco will contribute RMB 1.02 billion in cash as a partner to establish a partnership (limited partnership) of Chinalco Suihe Nonferrous Metals Green low carbon Innovation and Development Fund (Beijing) (provisional name, hereinafter referred to as "Chinalco Green low carbon Fund").

In addition to Chinalco, Including controlling shareholder Chinalco Group Co., Ltd. (hereinafter referred to as "Chinalco Group") and its subsidiaries Chinalco Capital Holdings Limited (hereinafter referred to as "Chinalco Capital Holdings"), China Copper Co., Ltd. (hereinafter referred to as "China Copper"), Limited partners and general partners such as Chinalco High-end Manufacturing Co., Ltd. (hereinafter referred to as "Chinalco High-end Manufacturing") and Agricultural Bank of China Financial assets Investment Co., Ltd. (hereinafter referred to as "Agricultural Bank Investment"), Chinalco Innovation and Development Equity Investment Fund Management (Beijing) Co., Ltd. (hereinafter referred to as "Chinalco Venture Capital"), Agricultural Bank of China Capital Management Co., Ltd. (hereinafter referred to as "Agricultural Bank of China Capital") jointly established Chinalco Green low carbon Fund.

The overall size of the fund is 6 billion yuan, with an investment of 2.988 billion yuan from Agricultural Bank of China, accounting for 49.8% of the total. Aluminum Corporation of China contributed 1.02 billion yuan, and Chinalco Capital Holdings contributed 1.008 billion yuan.

In addition, Chinalco said in the announcement that participation in the establishment of Chinalco's green low-carbon fund can make effective use of existing funds, improve the efficiency of capital use, and help support the development of industries such as new energy, energy conservation and environmental protection, and open up green and low-carbon business areas. And this investment will not have a significant impact on the financial situation and operating results of the company, and the partnership established will not become a subsidiary of the company.

Aluminum Corporation of China Green low carbon Fund Investment Chinalco Group Agricultural Bank of China Investment

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