Australian innovator Altech Chemicals Ltd. hosted a site visit from several of its investors over the weekend to its under-construction high-purity alumina (HPA) plant in Johor, Malaysia.
Altech managing director Iggy Tan led investors and other stakeholders in the plant’s first-ever tour, detailing the progress the firm has made since beginning Stage 1 construction toward the end of February.
Among the guests were representatives of KfW IPEX-Bank, which provides a significant portion of the site’s construction funding, EPC contractor SMS group GmbH, and representatives from financiers including Petra Capital, Macquarie Bank, and CIMB Bank, among others.
In addition, agents from a variety of private equity groups, battery manufacturers, and specialty materials industry stakeholders from Malaysia, Singapore, the Republic of Korea, and Hong Kong were in attendance. Representatives from Malaysian legal, taxation, and audit firms were present as well, along with potential investors from other industries and representatives from certain media outlets.
Altech touted the tour as an opportunity for not only showcasing to current investors the product their investments have yielded, but also as a sales pitch to potential partners interested in buying a stake in the project. The firm says it is still open to offers from third parties to buy up to a 50-percent stake in the project in order to obtain final project equity funding.
Altech Chemicals is based in Subiaco, Western Australia and is attempting to implement a marketable process for delivering 99.99% (4N) HPA using conventional equipment at a lower production cost than methods currently available. It plans to construct a 4,500 metric ton per annum HPA plant at Tanjung Langsat Industrial Complex, Johor, Malaysia that will use kaolin clay from a company-owned mine in Meckering, Western Australia. The firm is fast-tracking HPA production due to an agreement with Mitsubishi for 100% of its proposed HPA production for ten years. At present, Altech intends to commence project development later this year.