Thursday, November 27, 2008

Bosai Minerals, Guyana mull JV alumina plant

China's Bosai Minerals and Guyana are considering building an aluminum oxide plant with an annual output of one million tons, sources reported.

The two sides have agreed to conduct a feasibility study on the joint venture, which is estimated to involve an investment of US$1 million.

The Chongqing-headquartered company will pay 30% for the construction of the new plant if the project is practicable after the study, with the remainder coming from bank loans, said Yuan Zhilun, managing director of Bosai.

Guyana will take 11% stake in the alumina plant, which is expected to be built in three years.

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