Development Order Application for HPA Plant
- Land sub-title number (PTD number) received
- Construction development order application submitted
- Preparation of early bulk earth works underway
Altech has been advised that the development order approval time-line is typically 6-8 weeks, however the Company is working with its appointed EPC contractor SMS group GmbH and local authorities for the earlier commencement of bulk earth works and the mobilisation of various sub-contractors, to maintain project momentum.
Earlier this month (refer ASX Announcement dated 6 November 2018), the Company announced that it had finalised its HPA plant site layout and building design, a final requirement before the submission of the development order application.
About Altech Chemicals Ltd
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.
Altech Chemicals Ltd