China caps aluminium projects
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China’s central government will only approve renovation projects aimed at environmental protection or projects for replacing outdated production capacity “in the short term,” in order to control ‘blind investment’ in the aluminium industry, the National Development and Reform Commission said on Tuesday. In new guidelines, the country’s economic planning body stated the criteria for energy consumption, machinery and capital that companies must meet when applying for government approval of alumina, aluminium and recycled aluminium projects. Aluminium production in China rose 34 per cent on year in January-September to 8.90 million tonnes. But despite Beijing’s intention, small plants somehow continued to be established in some rural areas. The NDRC previously issued similar regulations for the copper, zinc and lead industries.
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Source : Business Line |
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