Nanshan Aluminium invests in Indonesian chemical project

Shandong Nanshan Aluminium (SSE:600219) announced plans to invest in a chemical project in Indonesia through its overseas subsidiaries. The investment involves constructing a plant with an annual capacity of 200,000 tons of caustic soda and 165,000 tons of epichlorohydrin. The total investment is estimated at CNY 1,867,773,500. Nanshan Aluminium will partner with Glory Light Global Investment Limited via a British Virgin Islands-based holding company and a Hong Kong subsidiary to form a joint venture with PT SUN INVESTAMA in Indonesia. The joint venture, PT Bintan Fine Chem Indonesia, will be 95% owned by the Hong Kong subsidiary and 5% by PT SUN INVESTAMA. The project is designed to support the company's alumina projects in the region and enhance its global competitiveness, but is pending regulatory approvals in Indonesia.