Jiaozuo Wanfang Aluminum Manufacturing’s wholly owned subsidiary Jiaozuo Wanfang Electric will build two 300 MW power generators together costing CNY 2.79 billion to promote energy self sufficiency.
The aluminum smelter has an annual capacity of 420,000 tonnes. The company currently buys electricity from the power grid, putting it at risk of power shortages and entailing higher fees than a proprietary power source.
Wanfang Aluminum’s reliance on the power grid forced it to cut one thirds of its capacity in October 2010 and it manufactured 140,000 tons less than planned in 2010.
The target power plant will require an annual coal supply of 1.9 million tonnes which reduces the risk of power shortages because the company has coal affiliates in Shanxi Province. The estimated recovery period of the investment is 11.5 years.
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