(Bloomberg)--China Power Investment Corp. will spend $6 billion to develop bauxite and alumina refineries at Boffa in Guinea, according to a statement from the president's office.

The Beijing-based energy company will also build a port to remove ore from the area, President Alpha Conde's office said in the statement, citing China Power Vice President Yu Dehui.

The facilities will initially produce 12 million tons annually of bauxite, used to make aluminum, along with 4 million tons of alumina, according to the statement.