Altech Chemicals announced this week announced the probability of getting mezzanine debt worth US$ 90 million from Macquarie Group for its Malaysian High Purity Alumina Plant project. Altech said the positive response from Macquarie came on the back of the recent increased profile of planned lithium-ion battery plants being constructed in Europe.
However, the receipt of the debt is subject to various internal approvals and inter-creditor arrangements with senior lender KfW IPEX-Bank in Germany, said Altech.
Altech’s Malaysian HPA project will secure kaolin clay feedstock from Meckering in West Australia, and the plant will be capable of producing alumina product that can achieve 99.99 per cent purity.
According to the report, Altech has also posted a suit of innovative financing arrangements to secure funding needed for the construction of the plant in Malaysia.
The discussions with Macquarie are ongoing and come on the back of Altech securing senior project debt finance of US$ 190 million from the German Government-owned KfW IPEX Bank.
Over the last two years, Altech has independently raised approximately A$39 million to cover the initial cost of the Malaysian HPA plant construction.
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