Yunnan Aluminum (000807) plans to invest 120 million yuan to set up a joint venture with controlling shareholder, Yunnan Metallurgical Group, to set up a plant in Lijiang with annual production capacity of 150,000 tons of aluminum materials used in the transportation sector, reports yicai.com, citing a company filing.
The proposed joint venture will have registered capital of 200 million yuan, with the remaining 80 million yuan to be contributed by Yunnan Metallurgical Group.
The production facility will have a three-year construction period.
The company predicts the facility will be put into operation in 2014, with projected annual revenue contribution of 3.23 billion yuan and net profit contribution of 288.79 million yuan.
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