PanAsialum (02078) said it has won the bid for the land use right in respect of three parcels of land situated at Nanyang Optoelectronics Industry Cluster Area, Nanyang City, Henan Province for Rmb106.6 million.
The aggregate site area of the lands is about 457,199.1 square metres, which is for industrial purpose. The land use right in respect of the sites has a term of grant of 50 years.
The three sites, which are situated next to the four parcels of land acquired on 14 March, will be combined to form a bigger site for the development of the Group's aluminium alloy production base. The second acquisition is part of the entire relocation plan and the establishment of an aluminium alloy production base in Nanyang City.
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