Altech Chemicals (ASX:ATC, FRA:A3Y) remains on track to reaching its goal of becoming one of the world's leading suppliers of 99.99% (4N) high purity alumina (HPA).
Altech's has outlined that detailed design and engineering is now well advanced for its proposed Malaysian HPA plant.
The design is in accordance with the revised schedule agreed between the company and its appointed engineering, procurement and construction contractor M+W Group.
Iggy Tan, managing director, commented:
"Overall, the detailed design, engineering and associated final EPC contract price formation is progressing at the required rate to align with the German government export credit agency project finance cover application and approval processes.
"Altech continues to fund all detailed design and engineering activities in order to expedite project development."
Recent dual listing and mining approval
Altech recently dual listed under the ticker A3Y on Germany’s Frankfurt Stock Exchange.
The dual listing supports Altech’s strategy to broaden its European investor base, particularly in Germany where there is growing interest in the company’s HPA project.
The Frankfurt Stock Exchange is the world’s third largest exchange-trading market as measured by trading volume, behind the New York Stock Exchange and NASDAQ.
The dual listing followed the recent approval of Altech’s mining proposal and the associated mine closure plan for its Meckering kaolin deposit located in Western Australia.