Shanghai Huafon Aluminium's (SHA:601702) subsidiary, Huafon Aluminum, obtained a real estate title for an industrial land that will serve as the site for a planned aluminum production plant, according to a Shanghai bourse filing on Thursday.
The land, measuring 332 square meters, is located in Fuling District, Chongqing, China.
The plant will produce 450,000 tons of high-end aluminum sheet, strip, and foil for new energy vehicles every year.
The newly acquired land parcel will be merged with a previously acquired industrial land, which measures 354,081 square meters.
The Chinese aluminum products manufacturer's shares dropped 3% during the afternoon trade.
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