It predicted rising revenues due to economic recovery and increased demand for aluminium from the real estate and transportation sectors.

Xiong Weiping, Chalco’s Chairman and CEO, made the announcement while announcing the company’s 2009 results.

As the country’s largest producer of alumina and aluminium, Chalco suffered a RMB4.65bn ($680.9M) loss last year, which the company blamed on the global financial crisis and price falls of aluminium.

It had generated RMB88M ($12.8M) profit in 2008.

However, the company pulled itself out of the red in the first two months of the year as a result of a resumption of suspended capacity and price rises, said Chalco CFO Chen Jihua.

The company planned to increase its alumina output this year by 30% from 2009’s 7.78Mt, and its aluminium output by 10% from 3.44Mt. Chalco predicted China to consume 16.5Mt of aluminium this year, up from 16.11Mt for 2009, while global consumption would rise to 41.6Mt from 39.41Mt.

Source: China Metals e-mail