Dec. 28, 2010 （China Knowledge） - Chalco, or Aluminum Corp of China Ltd<601600><2600>, the nation's largest aluminum producer and the world's third-largest alumina producer, on Saturday signed an agreement with the government of Guizhou Province to invest up to RMB 17.5 billion in the province, foreign media reported.
The investment reflects the largest one made by the Chinese aluminum giant after the company suffered a huge loss of RMB 4.6 billion in 2009.
Chalco will build an alumina smelter with a capacity of 1 million metric tons and a bauxite plant in the province.
At present, Chalco's Guizhou branch has an annual production capacity of 400,000 metric tons of electrolytic aluminum, more than 1.2 million metric tons of alumina and more than 270,000 metric tons of carbon products. In addition, the firm's joint venture project with Wujiang Hydropower Development Corp in Zunyi of the province is able to produce 800,000 metric tons of alumina and 1.7 million metric tons of bauxite per year.
On Saturday, China's centrally-administered state-owned enterprises inked about RMB 300 billion worth of investment agreements with the Guizhou provincial government.
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