viewAltech Chemicals Ltd

Altech Chemicals receives additional support for high purity alumina

Altech's total debt package has increased to US$190 million.

Altech Chemicals receives additional funding support for high purity alumina project
High purity alumina is an in demand product

Altech Chemicals Ltd (ASX:ATC,FRA:A3Y) remains focussed on becoming one of the world's leading suppliers of 99.99% (4N) high purity alumina (HPA) (Al2O3). 

HPA is a high-value, high margin product as it is the critical ingredient required for the production of synthetic sapphire.

Altech has received further support for this strategy from the German government owned KfW IPEX-Bank which has advised the company of credit approval for a total project finance debt package of US$190 million for its high purity alumina project.

The approved finance package is higher than the US$185 million of project finance initially proposed, reflecting the robust nature of the project.

The export credit cover component of the project finance is increased to US$170 million (was US$165 million) and the company has also been advised that this amount was approved by the German government inter-ministerial committee.

The balance of US$20 million will be at commercial terms.

Iggy Tan, managing director for Altech, commented:

"The company is delighted with the increased total debt package offered by KfW IPEX-Bank for the project and especially the additional loan cover made available by the German government (ECA cover).

"In our opinion the additional project finance is another significant vote of confidence for the project and follows an extensive detailed independent due diligence process."

Quick facts: Altech Chemicals Ltd

Price: 0.04 AUD

Market: ASX
Market Cap: $34.82 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Altech Chemicals Ltd named herein, including the promotion by the Company of Altech Chemicals Ltd in any Content on the Site, the Company...



Full interview: Altech Chemicals progresses HPA plant construction in...

Altech Chemicals Ltd (ASX:ATC) managing director Iggy Tan updates Proactive on HPA plant construction activities at the company’s high purity alumina (HPA) plant site in Johor, Malaysia. The majority of Stage 1 construction is nearly complete, the workshop building and OSD Tank walls have...

on 19/9/19

2 min read