Guangdong Aluminum Group Secures Loans from Banks to Set up Aluminum Base
2010-07-13
Guangdong Galuminum Group Ltd, one of the leading companies in China that specializes in manufacturing constructive aluminum profiles for doors and windows and curtain walls as well as fabricated windows and doors, has recently signed a loan agreement with a banking syndicate to secure CNY 3 billion to finance the mining projects of it's Guizhou Province-based subsidiary, Guizhou Galuminium Co., Ltd.
The banking syndicate consists of China Construction Bank, Hua Xia Bank, and Guangzhou Bank. The group hopes to build the project into the aluminum production base in Western China.
When completed, the stage one of the project will have a yearly production value of CNY 5 billion, turn in as much as CNY 500 million in taxes, create about 10,000 jobs.
GAL is Guangzhou-based that owns three modern manufacturing bases. At present our annual output has reached 80,000 metric tons.
After nearly 20 years' development, its domestic sales network has covered over 100 middle-sized or major cities. Meanwhile, it has expanded its international markets to such areas as USA, Europe, Japan, Middle East, Africa and so on.
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