Russia's ViHolding Industrial Group plans to complete the construction of a vertically integrated Yulian integrated facility in Henan Province in the second half of 2015 and put it into full operation. The facility will be used for hot-rolled and cold-rolled aluminum alloys with a capacity of 600,000 tons respectively. And 400,000 tons.
The start of the Yulian plant will mark the end of the project. The project was started by ViHolding in 2006 and aims to build a group of Chinese aluminum deep processing companies. The total investment now reaches US$3.3 billion, including US$1.2 billion of shareholder investment. The remaining investment funds are financed through China’s bank loans and reinvestment proceeds.
At an intergovernmental meeting held in Sochi in October, Vice-Premier Wang Yang delivered a speech saying that this investment project in Russia deployed by China is unprecedented.
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