News and Announcements
Altech Chemicals Annual Update 2015; Achieves EBITDA of US$59.4m & Secures Significant Project Funding
- Published December 15, 2015 2:52PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Altech successfully completed its BFS in June 2015 with positive financial results: total capital costs US$77 million; project payback 3.8 years, internal rate of return of 30.3%; annual EBITDA at full production US$59.4 million; and a NPV of US$326 million.
Project funding is full steam ahead with support from German federal bank KfW-IPEX and export credit agency (ECA) Euler Hermes for potential ECA and senior debt funding of ~US$40m – at attractive interest rates and long tenure (subject to due diligence). With major financiers backing the HPA project, and Mitsubishi confirmed as Altech’s Japanese HPA sales/off-take partner, construction of the Company’s HPA plant looks likely to commence by early 2016.
ABOUT ALTECH CHEMICALS
Smart investors understand the windfall gains to be made from taking an early position in companies set to profit from exposure to the “new age materials” boom. Altech Chemicals share price has almost doubled since July following release of its Bankable Feasibility Study (BFS) for construction of a 4,000tpa High Purity Alumina (HPA) plant at Tanjung Langsat, Malaysia. And no wonder – the project has an NPV of US$326.1 million (10% discount) and capital costs of a meager US$76.9 million.
There is no substitute for HPA in LED manufacturing, HPA demand is growing at a staggering 28% pa.
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