CHALCO's (2600) Shanxi plant begins expansion; investment 1.18 bln usd - Xinhua
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Date-Time: 2003-7-29 15:59:54 BEIJING (XFN) - Aluminum Corp of China Ltd's (CHALCO) (HK 2600; NYSE ACH) wholly-owned Shanxi Aluminum Plant has begun to expand its overall production capacity with an investment of 1.18 bln usd, Xinhua news agency reported. The news agency said the plant, located in the northern province of Shanxi, will increase its aluminum production capacity by 800,000 tons, and electrolytic aluminum production capacity by 280,000 tons. It will also establish a new power plant with a designed capacity of 600,000 kW. The project, which is expected to be completed in two years, will enable the plant to produce 10 different products with high-added value. The expansion will increase the plant's sales volume by 10 bln yuan, bringing about 3.0 bln yuan in profits and taxes. Shanxi Aluminum Plant currently has a aluminum production capacity of 1.4 mln tons, compared with 120,000 tons in 1983 when it was set up. CHALCO is a component stock of the FTSE/Xinhua China 25 Index. (1 usd = 8.3 yuan) sophia.zhu@xfn.com
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