Alcan Inc, Ningzia Electric Power Development, and Qingtonxia Aluminum Co. signed a joint venture agreement to build a smelter in China.
According to the agreement, Alcan will invest up to $150 million for a 50-percent participation and secure power supply in an existing 150- metric kilo ton smelter in China.
The agreement provides for the joint venture to obtain long-term access to dedicated power on competitive terms sufficient to meet the energy requirements of the smelter. The agreement also gives Alcan a substantial operating role and the option to acquire, through additional investment, up to 80 percent of a new pot line, already under construction.Latest from Recycling Today
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