ord teams with china for sarco

Copied from yesterday AFR :

Pure play alumina stocks are few and far between in Australia, but the could be about tho change.
Ord river Resources-which counts former prime minister Bob Hawk as an adviser- and China Non-ferrous Metal industry have signed up the Royal Bank of Canada Capital Markets to advise them on the spin-off and listing on the Australian Securities Exchange of their Laos bauxite and alumina joint venture Sino Australian Resources Co (SARCO).
Ord currently owns 51% of SARCO, with China Non-ferrous holding the remainder.
SARCO's Laos project will cost in the region of $600 million to develop, of which about 70% will be founded through debt.
Tha leaves SARCO needing at least $180 millionto come through an equity raising , suggesting the company could target about $200 miliion in the IPO- likely making it Asutralia's second largest pure play alumina comapny.
Both Ord and China Non-ferrous also intend to mantain substantial interests in SARCO, so the company eventually be valued at multiple of the $200 million raising.