DUSHANBE, September 11, 2014, Asia-Plus -- The Tajik Aluminum Company (TALCO) and China’s General Nice Investment Limited have signed an agreement on launching a joint venture for production of cathode packs in Tajikistan.

According to the State Committee for Investment and State-owned Property Management of Tajikistan (GosKomInvest), a total cost of the project is 30 million U.S. dollars.

TALCO is one of the ten largest aluminum smelters in the world and provides up to 70% of the country’s foreign currency earnings, consuming 40% of the country’s electrical power.  TALCO is wholly owned by the Tajik government.  Tajikistan does not mine alumina but imports the raw material through tolling arrangements.

Construction of the Tajik aluminum plant (TadAZ) began in 1972, and the first pouring of aluminum took place on March 31, 1975.  On April 3, 2007, TadAZ was officially renamed to TALCO – Tajik Aluminum Company.

Founded in 1992, General Nice Investment Limited, with headquarters in Honk Kong, is an investment holding company. The Company’s principal business is coal processing and production of industrial coke and coal-related chemicals production.