ALCAN ALUMINIUM LIMITED ANNOUNCES SIGNING OF MEMORANDUM OF UNDERSTANDING ON FEASIBILITY STUDY FOR CHINESE SMELTER AND POWER COMPLEX MONTREAL, Nov. 27 /CNW-AsiaNet/ - Alcan Aluminium Limited and China National Non-Ferrous Metals Industry Corporation (CNNC), have announced the signing of a Memorandum of Understanding to complete a detailed feasibility study on a proposed aluminum smelter and power complex at Hejin City, Shanxi Province in the People's Republic of China. This project has received the consent of all relevant government departments and has been approved by the State Planning Commission of the People's Republic of China following the completion of a pre-feasibility study conducted by the parties. "We have been doing business in and with China over the past 70 years" said Jacques Bougie, President and Chief Executive Officer. "This is a further step in the realisation of a project which would enable Alcan to maximize on this strong presence and pursue its business objective". The feasibility study on the 240 kt smelter and dedicated power complex will take approximately 12 to18 months to complete. Alcan Aluminium Limited is a multinational company engaged in all aspects of the aluminum industry. With operations and sales offices in over 30 countries, Alcan is one of the most international aluminum companies in the world, as well as the largest producer of flat-rolled aluminum products. For further information: Alain Bergeron, Alcan Aluminium Limited, (514) 848-8232 or Alan G. Brown, (514) 848-8368. (AL.)