Altech Chemicals (ASX:ATC) is nearing the completion of its due diligence activities associated with the financing of its proposed high purity alumina (HPA) plant in Malaysia.
The company is working to complete the remaining items from the definitive technical, market, and legal due diligence reviews of the project.
These reviews will form the basis of an independent expert opinion report for the purposes of project financing.
The remaining work is expected to be ongoing until early next quarter, and after satisfactory completion the results will be incorporated into the expert opinion report.
Iggy Tan, managing director, commented: “Whilst due diligence work has taken longer than initially anticipated, it is reassuring that all of the requested test work has been completed to the satisfaction of the various independent consultants.
“The conclusion of the due diligence process is now in sight, and while there is no certainty that the cover or the project debt finance will be approved, the company remains confident that its application for project finance export credit will be successful.”