Posted in | News | Non-Ferrous Alloys and Metals | Business | Aluminum / Aluminium

Alcan and Qingtonxia Aluminum Company Tie Up Joint Venture Agreement

Mar 11 2004

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Alcan and Chinese-based aluminium company Qingtonxia Aluminum Company have formed a definitive joint venture agreement after receiving the necessary regulatory approvals. Also involved is Ningxia Electric Power Development and Investment Co. Ltd. The joint venture agreement will come into effective around April 1.

Under the agreement, Alcan will invest about US$150 million for a 50% share in a 150,000 tonne modern pre-bake smelter in the Ningxia region in the People’s Republic of China.

The joint venture plant will also have a secure power supply that will be sufficient to power the plant.

The agreement also gives Alcan the option to acquire up to 80% of a new 250,000 tonne potline currently under construction as well as long-term access to dedicated power at competitive rates to power the smelter.

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