Gulf International Signs $1.6 Billion Aluminum Smelter Accord
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Gulf International Investment Group Holdings Sdn Bhd signed a joint venture agreement with Aluminum Corporation of China Ltd. to develop a $1.6 billion aluminum smelting plant in Sarawak, Malaysia.
Smelter Asia Sdn Bhd will develop, own and operate the aluminum plant, which will have an annual capacity of 370,000 metric tons during the first phase. It’s planned that that capacity will increase to 700,000 tons, according to an e-mailed statement from the company.