News and Announcements
Altech Chemicals Quarterly Activities and Cashflow Report
- Published February 01, 2016 10:53AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
1st February 2016, ASX Announcement
Highlights:
- Altech signs mandate with German KfW IPEX-Bank for project financing
– Exclusive project finance mandate with German KfW IPEX-Bank
– Mandate for senior debt, including German Export Credit Agency (ECA) insured debt
– Approx. US$40m of ECA cover project debt
– Balance of approx. $15m senior debt - Appointment of HPA sales & marketing manager (China)
– Mr Martin Ma appointed to develop the HPA business in China - Altech receives Letter of Interest (LOI) for German export credit cover
– LOI received from Euler Hermes for German ECA cover
– Around 55% of plant and equipment sourced from Germany & additional 10% from Europe
– Debt supported by ECA cover is typically at attractive conditions, including long tenure and low interest rates - Optimisation of kaolin benefication plant location
– Kaolin benefication plant to be located at the Company’s HPA plant site in Johor, Malaysia
– Detailed design and optimisation work continues
To read the full announcement, please click here.
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