Aricom to Build a Titanium Plant in China Operating on Russian Raw
Aricom, Russian-British company has completed the technical and economic substantiation of building of a sponge titanium plant in China. According to the substantiation, the plant with an annual capacity of 15 thou tons of sponge titanium (which may increase to 30 thou. tons) will be built in Tszyamusy, China. Titanium concentrate will be supplied form Kuranakhsk deposit (the Amur region, Russia).
Total investments in the projects are estimated at $300 mln. Chinalco, one of the major producers of non-ferrous metals in China has become Aricom’s partner in the project. According to the agreement, Aricom’s share in the joint venture will reach 65%, Chinalco - 35%. The beginning of the construction is scheduled for July 2008, while putting into operation is planned for 2010. Jay Hambro, Executive Director Aricom, said “Building of the titanium plant in China is the most significant stage in the development of the company. We are happy to have such a strong partner as Chinalco”.
Total investments in the projects are estimated at $300 mln. Chinalco, one of the major producers of non-ferrous metals in China has become Aricom’s partner in the project. According to the agreement, Aricom’s share in the joint venture will reach 65%, Chinalco - 35%. The beginning of the construction is scheduled for July 2008, while putting into operation is planned for 2010. Jay Hambro, Executive Director Aricom, said “Building of the titanium plant in China is the most significant stage in the development of the company. We are happy to have such a strong partner as Chinalco”.