Reuters reported that aluminium product manufacturer China Zhongwang Holdings will invest CNY 21 billion (USD 3.13 billion) in a deep-processing plant in Luoyang in central China’s Henan province. The plant will have annual output capacity of 1 million tonnes of extrusions, including automotive body parts and aluminium furniture initially and is targeting annual sales revenue of over CNY 41 billion. A spokeswoman for Zhongwang confirmed the planned investment, which she said would come in stages, and production capacity, but said it was too early to give a timeframe for the start of the project.