Others News
- World's biggest aluminum producer eyes Chinese market
Date: 31-Oct-2007 Sources: (People's Daily)
The world's biggest aluminum producer, Rio Tinto Alcan sees China's growing aluminum market as an opportunity to expand business.
'Rio Tinto has to some extent ignored the Chinese market before the acquisition of Alcan. But the strong development of aluminum industry has attracted us to look for more business opportunities here,' said Jean Pierre Paillot, Rio Tinto Alcan's President of the Chinese market.
Paillot said the Rio Tinto Alcan has established a regional headquarter for China in Shanghai a few months ago, and he personally has toured around some aluminum-rich provinces in the country looking for investment deals.
'Rio Tinto may pick Guangxi as the first choice for cooperation, because the region is rich in aluminum, hydro-power, land, and labor resources,' Paillot said when meeting with Guo Shengkun, deputy chairman of Guangxi Zhuang Autonomous Region at the sidelines of the ongoing China-ASEAN Expo.
Alcan joined Rio Tinto as 79.4 percent of its shares were tendered to the London-based miner earlier this month. The acquisition makes Rio Tinto the world's largest aluminum producer, ahead of Russia's UC Rusal.
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