Chongqing Shunbo eyes $868m aluminium base in Anhui

BEIJING: China’s Chongqing Shunbo Aluminum Co, a maker of recycled aluminium products, said on Wednesday it planned to build a 5.6 billion yuan ($868.45 million) production base in the country’s eastern Anhui province.

China, the world’s biggest producer and consumer of aluminium, is seeking to recycle more of the metal to cut its environmental footprint and reduce emissions from the energy-intensive smelting sector. In a filing to the Shenzhen Stock Exchange, Shunbo said it signed an agreement with Bowang district in the city of Maanshan to build a project with annual output of 400,000 tonnes of “green aluminium,” as well as 300,000 tonnes of slab and 200,000 tonnes of aluminium bar. Other aluminium products such as plate and foil can also be processed, it added.