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
- US Steel to restart Illinois blast furnace
- AISI, Aluminum Association cite USMCA triangular trading concerns
- Nucor names new president
- DOE rare earths funding is open to recyclers
- Design for Recycling Resolution introduced
- PetStar PET recycling plant expands
- Iron Bull addresses scrap handling needs with custom hoppers
- REgroup, CP Group to build advanced MRF in Nova Scotia
