Jan. 9, 2007 (China Knowledge) – Aluminum Corp of China (Chalco) has won approval to build an 800,000 ton capacity alumina project in Chongqing with a total investment of RMB 4.27 billion.

The project, which will include bauxite mines and power plants, could generate RMB 4.5 billion of sales a year after it is commissioned in three years.Chalco, the world’s second-largest alumina maker, has set aside RMB 60 billion to boost production capacity in both alumina and aluminium between last year and 2010, chairman Xiao Yaqing said in August last year.

The company is also expected to list RMB-denominated A-shares on the Shanghai Stock Exchange by the end of March or early April, a senior official said yesterday. The Chinese government is encouraging domestic companies that are listed overseas to return and bolster Mainland markets. Shanghai's benchmark index almost doubled last year, encouraging Hong Kong-traded Chinese companies, such as Chalco, to seek domestic listings.