News and Announcements
Altech Chemicals Half Yearly Update; BFS Results, HPA Plant Update, Mandate with German Bank
- Published March 16, 2016 4:02PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
15th March 2016, ASX Announcement
Review of Operations
On 29 June 2015, the Company released the results of its Bankable Feasibility Study (BFS) for the development of a 4,000pa high purity alumina (HPA) manufacturing plant Tanjung Langsat, Johor, Malaysia. The financial and technical outcomes of the BFS were compelling, they included total estimated capital cost for the project of US$76.9 million, project net present value of US$32 6.1 million (10% discount rate), annual revenues at full production of US$92.0 and annual EBITDA at full production of US$59.4 million (refer ASX Announcement dated 29 June 2015 for complete details and key assumptions of the BFS).
During half-year ended 31 December 2015, the Company made important progress towards the proposed development of the HPA plant by significantly advancing its efforts to secure project finance. In December 2015, the Company announced the execution of an exclusive mandate with German KfW IPEX-Bank GmbH (KfW-IpEX), a wholly owned subsidiary of the German promotional bank KfW, to provide advisory and structuring services in relation to senior debt project financing.
To view the full announcement, please click here.
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