Altech Chemicals (ASX:ATC) has incorporated a wholly-owned subsidiary in Malaysia as the first step in its strategy to establish a high purity alumina (HPA) processing plant.
This allows the company to advance the required documentation associated with the construction and operation of its proposed HPA processing plant.
The incorporation of Altech Chemicals Sdn Bhd also open the way for submissions to be made to the Malaysian Investment Development Authority (MIDA) for various investment and tax incentives.
Altech proposes to establish a plant in Johor Bahru, Malaysia, capable of 4,000 tonnes per annum of HPA.
Feedstock will be shipped from the company’s Meckering aluminous clay deposit.
The global HPA market was estimated at 19,040tpa in 2014.
This is expected to more than double in size to 48,230tpa by 2018 due to growing demand for sapphire glass in the LED lighting and electronics industries.
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