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Altech Chemicals advancing plant construction in Malaysia

The company aims to become one of the world's leading suppliers of 99.99% HPA.
activities on site at the Johor plant site
The geotechnical study work is expected to be completed within 3 to 4 weeks

Altech Chemicals Ltd (ASX:ATC) is nearing completion of the geotechnical ground drilling and surveying program at the site of its proposed high purity alumina (HPA) plant in Malaysia.

The program is part of the HPA plant stage one construction activities.

A full analysis of soil from the site will be used to confirm the final foundation piling requirements.

Study expected to be complete in 3-4 weeks

Altech’s appointed engineering, procurement and construction (EPC) contractor SMS group GmbH of Germany is coordinating the study and is responsible for the final civil design and engineering work.

The geotechnical study work is expected to be completed within 3 to 4 weeks.

READ: Altech Chemicals resumes normal trading, due diligence process commences

In late August, Altech entered a trading halt to confirm that the due diligence process on its high purity alumina (HPA) plant in Malaysia had commenced and was progressing well.

The company also confirmed it was progressing project financing.

Altech is progressing a US$120 million mezzanine debt facility term sheet and a US$60 steam finance facility term sheet for its project.

After the recent trading halt Altech disclosed that the mezzanine debt term sheet counterparty is a global investment bank with more than A$400 billion in assets under management and stream finance term sheet counterparty is a global alternative investment management firm with $4.5 billion under management.

READ: Altech Chemicals breaks ground in Malaysia as stage I high purity alumina plant work begins

Altech aims to become one of the world's leading suppliers of 99.99% HPA.

Its 4,500 tonnes per annum plant forms an important part of an integrated HPA strategy which incorporates kaolin clay sourced from the company’s kaolin deposit at Meckering, Western Australia.

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