Chalco Plans to Invest RMB 2.3 bln in Chongqing 800,000-t Alumina Project

BEIJING, July 6 -- China's top aluminum producer Chalco will invest 2.3 billion yuan in its Chongqing alumina project with a designed annual capacity of 800,000 tons, according to the Chongqing Municipal Development and Reform Commission.

    The company earlier announced that it plans to raise no more than 10 billion yuan via private placement to finance its alumina projects including the aforesaid project in southwest China and replenish its working capital.

    The Chongqing project involves total investments of about 4.75 billion yuan and a construction period of three years, consisting of an 800,000-ton alumina plant, a 1.55-million-ton refined ore plant, a 1.65-million-ton mine and a thermal power plant.

    (Source: chinamining.org)