HELALIN S.A., a Joint Stock Company between 3PL Trade S.A. from Greece and ITOK GmbH from Austria, incorporates under the Laws of Republic of Guinea has concluded an Basic Agreement (“Convention de Base”) with the Ministry of Mines and Geology of Guinea in December 2, 2005 which is ratified by the Parliament of Republic of Guinea on April 4, 2006 to develop bauxite resources of Fria-Telemele area located in western Guinea, about 180 km from Conakry Port. The aim of project is to develop a mining operation to exploit and export the produced bauxite to the international markets at the first step, and to construct a 1.2 million tpy alumina plant to treat bauxite into alumina. The possibility of construction of an aluminum smelter and the related infrastructures and a 500 MW power plant in further steps would be also under investigations.
ITOK GmbH, an international Engineering and Construction company active in the fields of hydrocarbon and mineral industries which incorporates under the laws of Austria and is a subsidiary of ITOK Group has been appointed by HELALIN S.A. as the principle consultant of the Project to perform the Bankable Feasibility Study on development of the bauxite mine and construction of the alumina plant at the engineering phase and to act as the general EPC contractor of the Project at the construction phase.