皇冠体育app

Companies

Chalco, Sapa seal deal for aluminum JV

(Xinhua)
Updated: 2011-04-09 13:54

BEIJING - The Aluminum Corporation of 皇冠体育app Ltd (Chalco) signed an agreement on Friday with Sweden's extruded aluminum profile maker, Sapa Group, to create a 50-50 joint venture in southwest 皇冠体育app to produce aluminum parts for high-end rail transit projects.

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Under the agreement, the two companies will invest an initial 630 million yuan ($96.33 million) in the joint venture in Chongqing Municipality.

The joint venture is set to start operations in 2013 and produce 20,000 tons of aluminum products annually.

Share prices of Chalco, the listed arm of Aluminum Corporation of 皇冠体育app (皇冠体育applco), climbed 1.38 percent to 11.79 yuan on Friday on the Shanghai bourse.