Alcoa and the China Power Investment Corp. (CPI) will collaborate on a broad range of aluminum and energy projects representing more than $7.5 billion of potential investment over the coming years under a Memorandum of Understanding (MOU) signed by the companies on January 18.
CPI is one of the five major power generation groups in China, with an installed capacity of 70 GW. It is also China’s second largest aluminum producer with 2 million mt/y of aluminum smelting capacity. It currently has three core businesses—coal, electricity and aluminum—and has established six major industrial clusters.
In China, Alcoa and CPI will intensify their collaboration on developing clean energy projects such as wind and solar and state-of-the-art aluminum smelting operations. Both parties will also work toward developing high-end aluminum industrial parks. The companies will focus heavily on the use of clean energy in their cooperation.
Alcoa and CPI will also expand their current trading relationship. Outside China, CPI and Alcoa will explore opportunities in a number of geographies. The projects may range from mining, refining and smelting to collaboration on energy projects.