Chinese Enterprise Officially Purchased Alumina Refinery in Jamaica

China enterprise - Jiuquan Steel (Group) Co., Ltd. purchased Alpart alumina refinery in Jamaica officially, and the ceremony was held on November 24. The representatives of two countries attending the ceremony both have expressed that it is mutually beneficial win-win cooperation.

Secretary of Jamaica Mining Transportation, Henry attended the ceremony and said it provides a new opportunity for the development of aluminum industry in Jamaica. The Jamaican government will create favorable conditions for the future operation and development of aluminum plant, and expects aluminum plant to finish the upgrade work done as soon as possible and change the business model  of aluminum industry in Jamaica, from primary products export to high value-added goods production, further improving Jamaica's economic and social development.

China's ambassador in Jamaica - Niu Qingbao, said it will create a lot of jobs, injecting " cardiotonic " to the economic growth in Jamaica. To modify aluminum plant, in addition, Chinese enterprises will promote the aluminum industry in Jamaican to achieve industrial upgrading and pragmatic cooperation.

Alpart alumina refinery was built in 1969, with 1.65 million tons of alumina production capacity every year, and has railways, ports, mines and other supporting facilities. In recent years, influenced by international raw material market price fluctuations, Alpart alumina refinery had to shut down, causing a large number of unemployed workers. In July, Chinese enterprise - Jiuquan Steel (Group) Co., Ltd. purchased it at the price of $299 million from the Russian Aluminum Company, and planed to upgrade the key working procedure, to meet the requirements of modern production.

According to introduction, after resuming production of Alpart alumina refinery, it will bring more than 800 jobs in Jamaica, and alleviate the pressure of the local employment. Jamaica is extremely rich in high grade bauxite resources, with reserves of about 2.5 billion tons, ranking the fifth in the world. More than half have gotten close to the surface and the port at the same time, and it has great advantages of convenient transportation.