China’s Chongqing Shunbo eyes $868 mln aluminium base in Anhui

China’s Chongqing Shunbo Aluminum Co 002996.SZ, a maker of recycled aluminium products, said on Wednesday it planned to build a 5.6 billion yuan ($868.45 million) production base in the country’s eastern Anhui province.

China, the world’s biggest producer and consumer of aluminium, is seeking to recycle more of the metal to cut its environmental footprint and reduce emissions from the energy-intensive smelting sector.

In a filing to the Shenzhen Stock Exchange, Shunbo said it signed an agreement with Bowang district in the city of Ma’anshan to build a project with annual output of 400,000 tonnes of “green aluminium,” as well as 300,000 tonnes of slab and 200,000 tonnes of aluminium bar.

(Agreement signed between the government of Bowan district of the city of Ma’anshan and Shunbo Alloy at the signing ceremony on May 12, 2021)

Other aluminium products such as plate and foil can also be processed, it added.

The first phase will be put into operation in 2023 and production from the second phase is planned to start by the end of 2025, Shunbo said, without specifying the capacity of each phase.

Source: www.nasdaq.com