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Hongqiao to lift Indonesian alumina capacity to 2 mln t/y

China Hongqiao Group, the country’s leading aluminum producer headquartered in East China’s Shandong province and listed in Hong Kong, has recently secured the financing for its second-phase alumina expansion in Indonesia to double the capacity to 2 million tonnes/year by the end of 2020, market sources confirmed on Friday.
To proceed with the second-stage expansion, Hongqiao has secured a total of $545 million from banks both inside and out of China, according to a WeChat sharing by DBS Bank, the largest commercial bank in Singapore that helped Hongqiao source the financing. The Indonesia alumina investment with the first stage commissioned

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