First Steel Raised at HPA Plant Construction Site
- First steel erected at Altech's Malaysian HPA plant site
- "Opstaan Yster" ceremony held to mark the occasion
- Culmination of a series of significant achievements
Stage 1 construction of the Company's HPA plant commenced in February 2019 and is being undertaken by Metix, the South African headquartered wholly-owned subsidiary of appointed EPC contractor SMS group GmbH of Germany. In accordance with South African custom, an "Opstaan Yster" ("stand-up of iron" in Afrikaans) ceremony and celebration was held at the site on Friday 3 May 2019 to mark this significant project milestone. In attendance for the ceremony were senior Metix, SMS group and Altech management; and all site based employees and sub-contractors. A video showing the Opstaan Yster ceremony can be found at http://www.abnnewswire.net/lnk/TB745X31
The video also provides an update of stage 1 construction progress.
The raising of first steel at Altech's HPA plant site represents the culmination of a series of significant achievements for the project over the last 6 months, these include advanced design and engineering; the obtaining of numerous permits and approvals; completion of bulk earthworks; completion of foundation piling for the maintenance workshop building and adjacent area; procurement of steel; site establishment; the appointment of various sub-contractors; establishment of site Safety, Health & Environmental (SHE); and the implementation of construction quality assurance systems.
Wynand Moolman, general manager of Metix South Africa and director of Metix Malaysia, opened the Opstaan Yster ceremony - thanking all employees and sub-contractors working on site for their safety performance and diligent efforts to date. He noted that there had been no safety incidents reported for the project and that the construction team is committed to continue its unblemished safety record. Altech's managing director Iggy Tan and alternate non-executive director Uwe Ahrens joined with Wynand Moolman and Shane Volk to tighten the first bolts of the first steel erected for the maintenance workshop building, thereby officially marking the completion of the "Opstaan Yster".
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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