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China's Chalco stalls aluminium smelter project in Malaysia
by Cals Wed 04 Sep 2013, 08:40
China's Chalco stalls aluminium smelter project in Malaysia
Business & Markets 2013
Written by Reuters
Tuesday, 03 September 2013 20:00
HONG KONG (Sept 3): Aluminum Corp of China (Chalco) , the top producer of the metal in China, has suspended a smelter project in Malaysia worth more than $1 billion, a company spokesman said on Tuesday.
"The project is stalled now," the spokesman told Reuters.
Chalco signed a frame agreement with Malaysian company Gulf International Investment Group Holding in 2010 to jointly build the aluminium smelter in Sarawak using local cheap hydro-power. The plant was set to have 370,000 tonnes of capacity a year, according to Chalco's website ([You must be registered and logged in to see this link.]
The agreement had not been proceeded since then because preparation work of the project was not done, the Chalco spokesman said. He did not give details or a timeframe for the suspension.
The smelter in Malaysia had been planned to start production in 2013, local media reported.
Business & Markets 2013
Written by Reuters
Tuesday, 03 September 2013 20:00
HONG KONG (Sept 3): Aluminum Corp of China (Chalco) , the top producer of the metal in China, has suspended a smelter project in Malaysia worth more than $1 billion, a company spokesman said on Tuesday.
"The project is stalled now," the spokesman told Reuters.
Chalco signed a frame agreement with Malaysian company Gulf International Investment Group Holding in 2010 to jointly build the aluminium smelter in Sarawak using local cheap hydro-power. The plant was set to have 370,000 tonnes of capacity a year, according to Chalco's website ([You must be registered and logged in to see this link.]
The agreement had not been proceeded since then because preparation work of the project was not done, the Chalco spokesman said. He did not give details or a timeframe for the suspension.
The smelter in Malaysia had been planned to start production in 2013, local media reported.
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