Chinalco to Undertake Vietnam Alumina Engineering
ACH | Quote | Chart | News | PowerRating -- Aluminum Corporation of China (Chinalco) lately announced that its subsidiary, China Aluminum International Engineering Co., Ltd. (Chalieco), had entered into an alumina EPC (engineering, procurement, construction) contract with Vietnam National Coal-Mineral Industries Group (Vinacomin).
With a total investment of around USD 460 million, the 600,000-ton alumina plant will be built in central Vietnam within the upcoming two years. Apart from the self-developed alumina production technologies, the Chinese company will be responsible for the introduction of related facilities, materials, and labors.
It is another integrated alumina EPC engineering that Chinalco undertakes in the international market in recent two years, said people familiar with the matter, adding that the Beijing-located group is charmed by Vietnam's rich bauxite resources. Actually, Chinalco and Vinacomin inked a series of framework cooperation agreement several years ago.
Approved by the State-owned Assets Supervision and Administration Commission (SASAC), Chalieco, as an important foreign trade platform of Chinalco, was inaugurated in December 2003.
Source: www.cnstock.com (March 24, 2009)
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