BEIJING, Dec. 3 (Xinhua) -- Chinese aluminum producer Xinjiang Joinworld (600888.SH) will invest 831 million U.S. dollars to build an alumina production line in Guinea, with an annual alumina output of 1 million metric tons (tonnes), announced the company on Monday.
Of the total investment, the project capital is 240 million U.S. dollars, which will come from the company's own funds and strategic investment, and the rest will be raised through bank loans and financial leasing.
According to the announcement, the production line will be sited in an industrial park in Cap Verga of Boffa, about 60 kilometers from Kamsar Port and approximately 140 kilometers from Conakry, Guinea's capital.
Its construction period is 2.5 years, and its operation period is 27 years.
The project has been approved by the Guinean government, yet it still needs to be filed to China's National Development and Reform Commission (NDRC) and other government bodies, according to the announcement. (Edited by Li Wenxin, liwenxin@xinhua.org)
A single purchase
