A USD 1.6 billion aluminum smelting plant that will be put up in Malaysia's Sarawak state by a partnership of two major Chinese and Malaysian groups will have a capacity of 370,000 tonnes a year.
The project proponents said that the plant's operation is designed to coincide with a projected growth of 4% in the world demand for aluminium over the next 5 years.
The announcement in Kuala Lumpur, however did not say when the smelter plant will begin operations. It will be located at the Samalaju Industrial Park. A JV agreement for the project was signed between Aluminium Corporation of China and a Malaysian group headed by local tycoon Mr Tan Sri Syed Mokhtar Al Bukhary and United Arab Emirates based business leader Mr Mohammed Ali Rasheed Alabbar.
The agreement which provides for the establishment of Smelter Asia Sdn. Bhd for the development and operation of the plant was signed by Mr Syed Mokhtar and Mr Zhang Chengzhong deputy GM of Aluminum Corporation. The signing was one of the highlights of a visit to Malaysia by Chinese Premier Mr Wen Jiabao. It was also witnessed by Mr Najib Razak PM of Malaysia.
The Samalaju Industrial Park where the Smelter Asia plant will rise is actually intended by the government to host heavy industries. The area is about 180 kilometers from the Bakun hydroelectric facility.
Mr Syed Mokhtar said in a statement after the signing that the strategic collaboration with the Chinese group is expected to bring in high class technology and to contribute to the socio-economic growth of Sarawak state.
Mr Alabbar the JV group's UAE based partner said that the plant would not only benefit the country but also support the ASEAN region's development thrust by providing aluminium which is critical in driving the massive infrastructure projects that are being planned.
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