(Yicai) Feb. 20 -- China Nonferrous Metal Industry's Foreign Engineering and Construction Company, a major engineering contractor also known as NFC, has signed a deal to build an electrolytic aluminum plant in Vietnam for USD572 million.

NFC will be responsible for the design, equipment procurement, transportation management, and construction installation of an electrolytic aluminum factory in the Nhan Co Industrial Park in Vietnam's central Dak Nong province for Tran Hong Quan Metallurgy, the Beijing-based company announced yesterday.

Meanwhile, Tran Hong Quan Metallurgy will take charge of the civil structure design and construction, NFC noted. The plant will be built in three phases across 40 months, of which the first phase will take about 15 months.

NFC provides engineering contracting services in Asia and central and southern Africa. In 2023, its revenue from the engineering contracting business totaled CNY4 billion (USD550 million), accounting for 43 percent of the total.

NFC's shares [SHE: 000758] were trading up 1.6 percent at CNY4.98 (69 US cents) as of lunch break in Shenzhen today.

Editor: Futura Costaglione