September 13 (CapitalVue) -- Yunnan Aluminum Co. Ltd. (000807.SZ) plans to invest RMB 120 million to set up a joint venture with controlling shareholder, Yunnan Metallurgical Group, to set up a plant in Lijiang with annual production capacity of 150,000 tons of aluminum materials used in the transportation sector, reports yicai.com, citing a company filing.

The proposed joint venture will have registered capital of RMB 200 million, with the remaining RMB 80 million to be contributed by Yunnan Metallurgical Group.

The production facility will have a three-year construction period.

The company predicts the facility will be put into operation in 2014, with projected annual revenue contribution of RMB 3.23 billion and net profit contribution of RMB 288.79 million.

Source:CapitalVue