News and Announcements
Altech Chemicals Secures Johor Land For its HPA Plant
- Published October 02, 2015 10:42AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
30 September 2015, ASX Announcement
Highlights
- Altech secures land at Johor, Malaysia (Tanjung Langsat Industrial Complex) for its proposed high purity alumina (HPA) plant
- Option to lease secured with a non-refundable deposit Johor Corporation
- Operating costs for a Malaysian HPA plant are estimated to be in the region of ~40% lower than an equivalent plant operated in Australia
- Altech anticipates operating costs for its HPA plant to be in the bottom quartile of the cost curve for established HPA producers
Altech Chemicals Limited (Altech/the Company) (ASX: ATC) is pleased to announce that it has now secured land in the Tanjung Langsat Industrial Complex, Johor, Malaysia for its proposed high purity alumina (HPA) plant.
The Company has reserved a ~4 hectare site in a section of the industrial complex that is set aside for chemical facilities. The site is initially reserved until 30 December 2015 and upon execution of an option to lease, will be leased for a period of thirty years, with an option to renew. The land reservation and option to lease has been secured with a non-refundable deposit of MYR300,000, that is credited against the 30-year lease payment on exercise of the option.
To read the full announcement, please click here.
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