Final Instalments Made for Johor HPA Site
Final Instalments Made for Johor HPA Site
Perth, May 22, 2018 AEST (ABN Newswire) - Altech Chemicals Limited (Altech/the Company) (ASX:ATC) (FRA:A3Y) is pleased to announce that it has paid the final instalments totalling AU$5.1 million for ~4 hectares of industrial land within the Tanjung Langsat Industrial Complex, Johor, Malaysia. The final payments secure the site for the Company's proposed high purity alumina (HPA) plant. The Company expects to receive a deed of title from the Johor state government for the land (30 year lease, with the option to renew for an additional 30 years) within the coming month.

Highlights

- Final instalments for Malaysian high purity alumina (HPA) plant site now paid

- Secures the 4ha industrial land site within the Tanjung Langsat Industrial Complex

- 30 year lease with option to renew for an additional 30 years

The ~4 hectare industrial site is located in a section of the Tanjung Langsat Industrial Complex that is designated for chemical processing facilities. As previously announced, the Company selected Johor, Malaysia as the location for its proposed HPA plant based on significant economic and development benefits, including the ready availability of required consumables such as hydrochloric acid, limestone, quicklime, power and natural gas - all at highly competitive prices. The availability of skilled labour, proximity to an international container port and international airports (Johor Bahru and Singapore), and the various investment incentives on offer such as a 5-year corporate tax benefit are other important advantages of the selected location.

About Johor

Renowned as being the most sought-after location for industries in Malaysia, Johor is a dynamic and vibrant industrial corridor for the world's manufacturing hub, the south-east Asian region. The only state in Malaysia with three ports and an international airport for cargo, Johor is the international metropolis for investment providing political and social stability, fully-developed industrial parks, a growing English-speaking workforce, supportive government policies with attractive tax incentives and low inflation rates. Johor has the largest concentration of the world's leading manufacturers and exporters of electronic products such as semiconductors and synthetic sapphire products; solar panel and glass products; textiles, rubber and wood products.

About Tanjung Langsat Industrial Complex

The Tanjung Langsat Industrial Complex is located approximately 40km to the south-east of the capital city of Johor Bahru, and it caters to light, medium to heavy industries. The industrial complex contains multinational production groups from petrochemical, oil and gas, resource-based, ferrous and non-ferrous metal, biofuel, marine, palm oil and oleochemicals. Major companies currently operating within the Tanjung Langsat Industrial Complex include major Spanish steel manufacturer Acerinox Group; Titan Petrochemicals; Kiswire; Dairen Chemicals; Dialog and Lion Eco Chemical.

To view figures, please visit:
http://abnnewswire.net/lnk/D2VNK6QM


About Altech Chemicals Ltd

Altech Chemical Ltd ASX:ATCAltech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (HPA) (Al2O3).

HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. There is no substitute for HPA in the manufacture of synthetic sapphire.

Global HPA demand is approximately 25,315tpa (2016) and demand is growing at a compound annual growth rate (CAGR) of 16.7% (2016-2024), primarily driven by the growth in worldwide adoption of LEDs. As an energy efficient, longer lasting and lower operating cost form of lighting, LED lighting is replacing the traditional incandescent bulbs.

    


Contact

Iggy Tan
Managing Director
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Shane Volk
Company Secretary
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Investor Relations (Europe)
Kai Hoffmann
Soar Financial Partners
Tel: +49-69-175-548320
Email: hoffmann@soarfinancial.com



Related Companies

Altech Chemicals Ltd    

ABN Newswire This Page Viewed:  (Last 7 Days: 48) (Last 30 Days: 221) (Since Published: 1494) 
ANALYTICS: LOGIN HERE

Altech Chemicals Ltd NEWS: RECENT VISITS (15966)

Research Report

Social Media