Altech Chemicals Limited executed an option to purchase agreement for a ~10 hectare industrial site within the Schwarze Pumpe Industrial Park, municipality of Spreetal, Saxony, Germany. The company had received an official invitation from the State Government of Saxony in September 2019 to consider building its next high purity alumina (HPA) plant in Saxony.
The company will have access to the site for planning and assessment purposes during the option period. Altech is investigating the site as a preferred location for a second HPA plant, specifically to service forecast demand for HPA from Europe’s burgeoning electric vehicle and renewable energy battery sectors, Altech said.
Managing director, Iggy Tan said: “whilst we have been focussed on completion of finance and the continuation of construction of Altech’s first HPA plant in Malaysia, the increased fiscal support for the EV and renewable energy sectors recently announced by the EU and Germany, combined with the forecast HPA supply deficit in coming years, has prompted us to move and secure this excellent HPA plant site in Germany – albeit earlier that I had anticipated. A HPA plant takes 4-5 years to design, permit, fund and construct. To meet the forecast HPA supply deficit Altech needs to be pro-active and put in place a plan for its next plant today, whilst staying extremely focussed on the first facility in Johor.”
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