DJ Chalco In Saudi Smelter JV With MMC Corp, Binladin Grp-Report

BEIJING, May 11, 2008 (Dow Jones Commodities News via Comtex) -- ACH | news | PowerRating | PR Charts -- Aluminum Corp. of China Ltd. (ACH), also known as Chalco, plans to establish a joint venture aluminum smelter plant with Malaysia's MMC Corp. (2194.KU) and Saudi Arabia's Binladin Group, the China Daily reported Saturday, citing Chalco President Luo Jianchuan.

Total investment in the plant is estimated to be US$4.5 billion, the paper said.

The plant, to be located in Saudi Arabia, will have an annual production capacity of 1 million tons of aluminum, the paper said.

Chalco will hold a 40% stake in the joint venture, MMC Corp will hold 20%, and a consortium of local investors led by Binladen group will hold the remainder, the paper said.

Newspaper Web site: http://www.chinadaily.com.cn

-By China Bureau, Dow Jones Newswires; (8610) 6588-5848; djnews.beijing@dowjones.com

(END) Dow Jones Newswires

05-11-08 0541ET

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