Proactive Investors - Run By Investors For Investors

Altech Chemicals hosts visit to site of Malaysian high purity alumina plant

Attendees observed the progress made since the initiation of site works at Johor in late February 2019.
Investor visit to Altech project in Malaysia
Managing director Iggy Tan addresses investors and stakeholders

Altech Chemicals Ltd (ASX:ATC) has hosted an inaugural investor and stakeholder visit to the site of the company’s high purity alumina (HPA) plant in Johor, Malaysia.

Stage I construction of the plant began in late February 2019 and visitors observed first-hand the progress made during the short period since site works were initiated.

Various potential equity and joint venture partners were in attendance, with the roll-call including representatives of KfW IPEX-Bank, Macquarie Bank, CIMB Bank, Petra Capital and EPC contractor SMS group GmbH, of Germany.

READ: Altech Chemicals continues to progress stage I construction at HPA project site in Malaysia

The visit began at Altech’s Johor office, which is around 300 metres from the plant site.

Managing director Iggy Tan provided a corporate update that covered the stage I construction plan, the status of project financing and corporate funding.

Group 1 of the investor delegation.

He also addressed the option to introduce a joint venture partner at project level and the company’s plan to initiate stage II construction.

This stage of the visit concluded with a site safety briefing and induction by the SMS group.

Aerial view showing the progress of stage I construction.

An inspection of the HPA plant site followed, which included a detailed explanation of the stage I construction works.

READ: Altech Chemicals sees increase in demand for HPA from lithium battery manufacturers

Also present at the visit were Altech board chairman Luke Atkins, non-executive director Peter Bailey and alternate director Uwe Ahrens, who was also representing a major shareholder, the Melewar group.

KfW IPEX-Bank metals and mining team director Stefan Eitel spoke to the delegation about the US$ 190 million committed project senior debt facility.

Workshop foundations.

SMS group senior vice president strategic project development Herbert Weissenbaeck provided a comprehensive overview of the lump sum, fixed priced, turnkey EPC contract.

He described the completion, throughput, process and quality guarantees that are incorporated in the construction contract.

READ: Altech Chemicals signs mezzanine finance mandate with Macquarie Bank

As potential investors, representatives of a number of private equity groups, battery manufacturers and specialty materials industry participants from Malaysia, Singapore, South Korea and Hong Kong also attended.

Group 2 of investor delegation.

For most stakeholders and investors, the site visit was their first time at the plant location and the Tanjung Langsat Industrial Complex and for some attendees, it was their first visit to Johor and Malaysia.

Many expressed their surprise at the scale of industrial development in Johor, the established infrastructure and services that are available, and the ease of transit from Singapore airport to Johor.

View full ATC profile View Profile

Altech Chemicals Ltd Timeline

Related Articles

March 07 2019
With operations in Honduras back on track and costs coming down, Wishbone's margins are set to rise.
Etango project in Namibia
January 30 2019
Managing director Brandon Munro has outlined expected positive drivers for the sector in 2019.
Battery metals favoured by electric vehicle manufacturers are a focus for Tony Sage outfit FEL
April 30 2019
FEL is acquiring lithium projects near Fortescue Metals Group discoveries in the Pilbara region of WA.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use