Completes HPA Site Clearance Work at Johor, Malaysia
Completes HPA Site Clearance Work at Johor, Malaysia
Perth, July 27, 2018 AEST (ABN Newswire) - Altech Chemicals Limited (Altech/the Company) (ASX:ATC) (FRA:A3Y) is pleased to announce that it has completed clearing the ~4Ha site for its proposed high purity alumina (HPA) plant in Johor, Malaysia. Site clearance commenced earlier this month following the execution of the stage 1 construction agreement for the HPA plant with appointed German engineering, procurement and construction (EPC) contractor, SMS group (SMS).

Highlights

- Altech completes HPA site clearance works at Johor, Malaysia

- Key development milestone for Altech's HPA project

Clearing of the site predominantly involved the removal of secondary re-growth vegetation; this activity was the first task in the detailed schedule of works for stage 1 construction. The completion of site clearance is another key development milestone for the Company's proposed Malaysian HPA plant; other key Malaysian development milestones are listed in the table below:

Date: 20 Nov 2014

Development Milestone (Malaysia): Following a global search, Altech selects and secures a ~4Ha site at Johor, Malaysia for its proposed HPA plant

Date: 19 Jun 2015

Development Milestone (Malaysia): Environmental approval (PAT) to develop the HPA plant received

Date: 2 Nov 2016

Development Milestone (Malaysia): Altech opens an office for its Malaysian subsidiary in Johor (Tanjung Langsat)

Date: 25 Nov 2016

Development Milestone (Malaysia): Official lease signing ceremony with Johor Corporation, managers of the Tanjung Langsat Industrial Complex

Date: 16 May 2017

Development Milestone (Malaysia): SMS group appointed as EPC contractor for Altech's HPA plant

Date: 20 Oct 2017

Development Milestone (Malaysia): Design of HPA plant finalised

Date: 21 Feb 2018

Development Milestone (Malaysia): Manufacturing licence for HPA plant approved

Date: 22 May 2018

Development Milestone (Malaysia): Final payment instalments made for HPA plant site, securing the site via a 30-year lease

Date: 12 Jul 2018

Development Milestone (Malaysia): Altech executes stage 1 construction agreement with SMS group

Date: 27 Jul 2018

Development Milestone (Malaysia): Site clearance completed at HPA plant site

The Company's HPA plant site is located in a section of the Tanjung Langsat Industrial Complex in Johor that is designated for chemical processing facilities. 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 profits tax relief period are other important advantages of the selected location.

Renowned as being the most sought-after location for industries in Malaysia, Johor is a dynamic and vibrant industrial corridor and a manufacturing hub in 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.

Altech's managing director Iggy Tan, commented: "The site clearance caps off an exciting 12 month period for Altech as we take another step towards our goal of becoming a major producer of high purity alumina".

To view tables and figures, please visit:
http://abnnewswire.net/lnk/744H7A12


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



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