TBEA invests in alumina project, offers financing guarantees

TBEA (SSE:600089) will invest in building a 2.4 million-ton alumina project, spearheaded by its holding company, Fangchenggang China Silk Road New Material Technology. The project, totaling RMB 6.78 billion, will be 30% funded via equity and 70% via bank loans. TBEA aims to fortify its integrated aluminum material chain through this investment. To secure necessary bank loans for Fangchenggang China Silk Road New Material Technology, TBEA's subsidiary and major shareholder will provide guarantees proportional to their equity holdings, totaling no more than RMB 4.746 billion.