Innovation Group Will Invest 20 Billion Yuan to Launch a Hard Aluminum Alloy Project

On November 20, the People’s Government of Tongliao City of Inner Mongolia, the People’s Government of Huolinguole City and Shandong-based Innovation Group signed an investment framework agreement on a new-type hard aluminum alloy project. Under the agreement, Innovation Group will invest 20 billion yuan to launch an 800,000-ton hard aluminum alloy project in Huolinguole City. Leaders of Tongliao City including Li Yonggang and Zhang Guoqiu attended the signing ceremony.

Through referral by the Yangtze River Delta Investment Promotion Group of Tongliao City,the People’s Government of Huolinguole City and Shandong-based Innovation Group recently engaged in consultations and reached agreement on cooperation. The project will be carried out in two phases, and reach the designed capacity by the end of 2015. The first phase will officially start in May 2012. Supporting items include 2-million-kilowatt power and heating workshop, 800,000-ton raw material workshop, a coal mine with an annual capacity of 10 million tons, and a carbon workshop with an annual capacity of 400,000 tons.When it is completed and put into production,the project will play a key role in developing the coal, power and aluminum industries, increasing the added value of aluminum products, and boosting enterprises’ market competitiveness.

It is learned that Innovation Group is a large modernized conglomerate dedicated to highend wrought aluminum alloy, cast aluminum alloy, aluminum plates, aluminum tapes, aluminum foil, automotive aluminum wheels, carbon, cast steel, and cast iron products, involved in the fields of trade, logistics, finance and real estate. Under the group there are more than ten subsidiaries, including Innovation Metals, Innovation Plates, Xinliyuan Cast, Shandong Liufeng, Innovation Carbon and Innovative Real Estate. In 2010, the group posted sales revenue of 10.6 billion yuan. With an annual production capacity of 1 million tons of aluminum alloy, it becomes the largest aluminum alloy production base in China. Its products are widely applied in the fields of aviation, transportation, industrial products and construction.