Chalco in $4.5b JV plant

Chalco, the nation's largest aluminum producer, agreed on Friday to establish a joint venture with Malaysia's MMC and the Saudi Binladin Group to build and operate an aluminum smelter plant in Saudi Arabia.

Total investment in the plant, to be built in three stages, is estimated to be $4.5 billion.

Chalco's commitment in the joint venture ranks as China's largest investment in Saudi Arabia so far.