Chinalco, the parent of Aluminum Corp. of China Ltd, along with with UK-based Aricom Plc, has won approval from the National Development and Reform Commission to set up a joint venture titanium plant in the northeastern city of Harbin, China. With a total projected investment of CNY 2.2 billion, the first phase of the project is expected to yield an annual capacity of 15,000tns. Aricom will hold 65% of the venture, while Chinalco will own the remainder. The plant is expected to be operational by 2010.
