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Altech Chemicals Ltd (ASX:ATC) Construction update March 2020

Perth, Australia, Mar 11, 2020 - (ABN Newswire) - Altech Chemicals Limited (ASX:ATC.AX - News) (HAM:A3Y.F - News) is pleased to provide an update on the current status of construction activities at the Company's high purity alumina (HPA) plant site in Johor, Malaysia.

Construction of the onsite electrical substation has continued to progress and is now ahead of schedule. All major structural works are now complete and the majority of external detailing of the building has been finished. The EPC consortium (SMS group and Metix) and its subcontractors have recently commenced internal finishing and architectural detailing, the completion of sewerage and drainage works, and the finalisation of vehicle access requirements.

The substation is now expected to be completed during April 2020, approximately four (4) weeks ahead of schedule. Handover of the building to Altech will be after final inspection and the identified of any punch list items. The substation will be turned over the local electricity service provider TNB (Tengaga Nasional Behad) for inspection by its project team ahead of switchgear installation, which is planned in parallel to the HPA plant construction to ensure that electricity supply is available well in advance of plant commissioning.

As at the end of February 2020, the EPC construction consortium and subcontractors had completed 125,303 lost time injury (LTI) free hours on site. The Stage 1 and 2 construction activities have seen a total of 253 employees and contractors inducted, and work completed with one (1) first aid / medical treatment case, and zero (0) lost time injuries.

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About Altech Chemicals Ltd:

Altech Chemicals Limited (ASX:ATC.AX - News) (FRA:A3Y.F - News) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (HPA) (Al2O3).

HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. There is no substitute for HPA in the manufacture of synthetic sapphire.

Global HPA demand is approximately 25,315tpa (2016) and demand is growing at a compound annual growth rate (CAGR) of 16.7% (2016-2024), primarily driven by the growth in worldwide adoption of LEDs. As an energy efficient, longer lasting and lower operating cost form of lighting, LED lighting is replacing the traditional incandescent bulbs.

Contact:

Corporate
Iggy Tan
Managing Director
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Shane Volk
Company Secretary
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Investor Relations (Europe)
Kai Hoffmann
Soar Financial Partners
Tel: +49-69-175-548320
Email: hoffmann@soarfinancial.com

Source:

Altech Chemicals Ltd

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