Chalco announces joint venture for aluminum slab ingot
2024-01-29 11:29:00 [Print]
Aluminum Cooperation of China Limited (Chalco), plans to set up a joint venture with China Aluminum Group High-end Manufacturing Co., Ltd., a holding subsidiary of Aluminum Cooperation of China (Chinalco) for a total cash investment RMB480 million (USD66.86 million), including RMB288 million (USD40.12 million) from Chalco which will hold a 60% equity interest in the joint venture.
The joint venture will invest in the production line of aluminum slab ingot, as part of Chalco's plan for downstream utilization of green aluminum. The two sides will work together to develop a green aluminum industrial chain that includes low-carbon and high-end aluminum materials, which is expected to promote the green transition of aluminum industry as well as boost competitiveness and profitability.
The joint venture will invest in the production line of aluminum slab ingot, as part of Chalco's plan for downstream utilization of green aluminum. The two sides will work together to develop a green aluminum industrial chain that includes low-carbon and high-end aluminum materials, which is expected to promote the green transition of aluminum industry as well as boost competitiveness and profitability.
Aluminum Ingot 99.7%min In warehouse Wuxi
Unit:RMB/mt
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Unit: pcs
