Bonds News
- Chalco plans bonds to fund growth
Date: 13-Feb-2007 Sources: (Shenzhen Daily)
ALUMINUM Corp. of China Ltd., the nation's biggest maker of the metal, said yesterday it plans to raise as much as 5 billion yuan (US$645 million) by selling bonds of more than one year to help to fund expansion.
The Beijing-based company, widely known as Chalco, will seek shareholder approval for the sale at a Feb. 27 meeting, it said in a statement. China is the world's top maker of aluminum, the lightweight metal that is used to make beverage cans, auto parts and window frames. Chalco's parent, Aluminum Corp. of China, is buying plants to increase capacity 56 percent to 5 million metric tons by 2010.
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