Altech Batteries Ltd Stock Market Press Releases and Company Profile
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) (googlechartASX:ATC) (googlechartA3Y:FRA) 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 Batteries Ltd

Altech Chemical Ltd ASX:ATCAltech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns. 

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

https://twitter.com/altechbatteries https://www.facebook.com/AltechChemicals/ https://au.linkedin.com/company/altechbatteries abnnewswire.com 


Contact

Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com



ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 3) (Last 30 Days: 25) (Since Published: 5641)