Chinalco Co., Ltd. (referred to as: Chinalco) announced on Wednesday that it plans to form a 50% joint venture with a Swedish aluminum extrusion profiler SapaAB to produce railway parts in China. Earlier, the Chinese government indicated plans to expand the domestic high-speed railway network.
Chinalco and Sapa signed a memorandum of understanding on the formation of a joint venture that will build an aluminum extrusion and manufacturing plant in southern China. Chinalco did not disclose the specific investment figures for the project in the announcement.
Chinalco said that the two parties plan to finalize the contract and start construction before the fourth quarter. The joint venture products will be listed as early as the first quarter of next year.
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