Shangdong Luneng gains bank loans to build Al smelter in Malaysia

摘要

The Export-Import Bank of China has agreed to give 10-year term loans to Shandong Luneng Group and a Malaysian company, supporting the two companies to build an aluminum smelter in east region of Malaysia. The total investment in the aluminum project is estimated at USD3.2 billion. The annual lending rate is 2 percent-3 percent. Shandong Luneng Group, a large-sized enterprise mainly engaged in electricity generation in China, plans to invest over 20 billion yuan to build a green-field aluminum smelter with nameplate capacity of 500,000tpy in Malaysia.