Chalco's Ningxia Energy to invest in new energy joint venture
Aluminum Corporation of China (Chalco) is set to enhance its strategic energy initiatives through a series of interconnected moves. Firstly, Chalco's controlling subsidiary, China Aluminum Ningxia Energy Group Co., Ltd. (Ningxia Energy), plans to invest RMB 1.14 billion to hold a 23.90% stake in a new joint venture focused on integrated energy supply. This venture, aimed at constructing and operating a "source-grid-load-storage" integrated power supply project for a copper mine in Tibet, involves partnerships with China Copper Tibet Mining Co., Ltd. and Tibet Development & Investment Group Co., Ltd. Concurrently, Chalco is streamlining its subsidiary structure by merging Inner Mongolia Huayun New Materials Co. into Baotou Aluminum, a move designed to consolidate resources and improve operational efficiencies. Chalco will ultimately retain a 65.5759% stake in Baotou Aluminum, while China Aluminum Group will become a 34.4241% shareholder. These initiatives are part of Chalco's broader strategy to optimize asset allocation, boost profitability, and strengthen its position in the integrated energy and advanced materials sectors.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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