Chalco’s Hong Kong subsidiary, MMC and Saudi Binladin Group Sign Electrolytic Aluminium JV

Chalco’s subsidiary Chalco Hong Kong Co. Ltd, Malaysia Mining International Holding Co. (MMC) and Saudi Binladin Group have signed a “ joint arrangement ” for the China- Saudi Arabia electrolytic aluminum project. The estimated $4.5-billion joint venture will build and operate an electrolytic aluminum plant with capacity of 1 million tpy and a captive power plant. The electrolytic plant will be build into 3 stages, with an estimated size of the power plant for 1860MW. chalco plans to hold a 40% and 20% stake of the aluminum plant and power plant respectively, which makes it the largest and third largest shareholder of the two plants each. The project has received approval from Saudi Arabian government. Saudi Binladin Group, one of the largest construction contractors in the country, is “American’s Rockefeller ” as named in the Middle East. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.