QINGDAO, China, Nov 14 (Reuters) - China Hongqiao Group , the world’s biggest aluminium producer, is moving 2 million tonnes of aluminium capacity to Yunnan province from its current base of Shandong, its chairman said on Thursday.
Work on the Yunnan project has already started, with first phase of production seen starting in the third or fourth quarter of next year, Hongqiao chairman Zhang Bo said in an interview on the sidelines of the China Aluminum Week forum in Qingdao.
Hongqiao will not cut any aluminium production this winter, Zhang said, having already closed some capacity after floods this year.
There is no need to buy any replacement capacity permits for the Yunnan project as the group’s capacity will stay the same, he added. (Reporting by Tom Daly in QINGDAO, China; Writing by Mai Nguyen in Singapore; Editing by Muralikumar Anantharaman)