WASHINGTON D.C.: Aluminum producer Alcoa, Inc. and China Power Investment Corp. (CPIC) agreed to collaborate on a slew of aluminum and energy projects with a potential investment of about $7.5 billion over the coming years. The Memorandum of Understanding between the two companies was signed in the presence of US Secretary of Energy Steven Chu, Chinese Minister of Science and Technology Wan Gang, during the US visit of the Chinese President Hu Jintao. Alcoa said in a statement that the company along with CPI will work in China on developing clean energy projects such as wind and solar and state-of-the-art aluminum smelting operations. China Power Investment Corp. is one of the five largest state-owned power producers in China. The organization is engaged in investment, construction, and management of power plants and power generation in China, and supplies about 10 percent of the Asian giant's electricity needs.
