On November 15, global aluminum of Singapore, MKU of Indonesia and qili aluminum of Malaysia signed the "share subscription agreement" and "shareholders agreement" on bintan aluminum (BAI, an overseas subsidiary of nanshan aluminum of China) in the provincial government of riau islands of Indonesia. Qili aluminum will increase the capital of BAI company to jointly carry out the future alumina project construction. Wang shujian, executive vice governor of shandong province, isiduanto, acting governor of riau islands province, zhang bin, director of state-owned assets supervision and administration commission of shandong province, wang zhong, executive vice mayor of yantai city, song jianbo, chairman of nanshan group, cheng rence, chairman of nanshan aluminum industry, zhang guodeng, chairman of MKU, and guan baoqiang, chairman of qili aluminum industry attended the signing ceremony.
After the signing ceremony, executive vice governor wang shujian inspected the binthananshan industrial park in Indonesia and highly recognized the BAI project construction results. He instructed that nanshan, as the representative of shandong provincial excellent show enterprise, should adhere to high-quality development, project construction and operation should adhere to "high standards and strict requirements", let China's advanced technology go out and drive the local economic construction of Indonesia.
BAI is jointly funded by global aluminum, a Singapore subsidiary of nanshan aluminum, and MKU, an Indonesian enterprise. Currently, it is constructing the "1 million ton alumina project in nanshan industrial park of bintan, Indonesia" on bintan island, riau islands, Indonesia. According to this agreement, qili aluminum will acquire the new shares of BAI company by means of investment. * will eventually hold about 25% of the shares of BAI company, and its investment will mainly be used for the expansion of 1 million tons of alumina project in the second phase. Upon completion of the expansion, the binthananshan industrial park in Indonesia will have an annual production capacity of 2 million tons of alumina.
The investment and investment of qili aluminum will optimize the shareholding structure of BAI company, improve the production capacity and scale of production, so that the production of alumina project can achieve large-scale benefits. At the same time, the company has developed a stable sales channel for products, which is of great significance to strengthen the company's industrial competitiveness and improve the company's profitability. This investment cooperation will further expand the scale of foreign investment in kalang batang special economic zone of riau islands province, create more jobs and promote the economic development of riau islands province.
About Malaysia qili aluminum industry
Qili aluminum co., LTD., founded in 1986, mainly produces and processes aluminum products, and went public in Malaysia in 1993, with 760,000 tons of electrolytic aluminum capacity and 200,000 tons of extruded aluminum capacity. Sales in 2018 were about rm9.1 billion, with a profit of rm770 million and a market value of about rm17 billion. At present, qili aluminum has become a large aluminum industrial enterprise in southeast Asia, and has set up large-scale production or sales bases in the UK, North America, Australia, Hong Kong and China, with sales network all over the world. (From Alu)