News and Announcements
Altech Finalises Agreement for HPA Plant Site – Johor
- Published March 15, 2016 3:54PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
15th March 2016, ASX Announcement
Highlights
- HPA plant site secured at the Tanjung Langsat Industrial Complex, Johor Malaysia
- 30 year lease, with an option to extend for an additional 30 years
- Johor, Malaysia affords significant operating cost and strategic advantages for the Company
Altech Chemicals Limited (ASX: ATC) is pleased to announce that it has finalised a lease agreement with Johor Corporation for a ~4Fa plot of land in the Tanjung Langsat Industrial Complex, Johor, Malaysia as the site for its proposed high purity alumina (HPA) plant. The Company has previously announced the reservation of the land (refer ASX announcement dated 20 September 2015), which is in a section of the industrial complex that is set aside for chemical facilities.
The agreement is a 30-year lease with an option to extend for an additional 30 years (standard terms for land in the industrial complex). The land has been secured with an initial deposit and interim payments will be made during 2016, with a final payment due at the end of 2016.
To read the full announcement, please click here.
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