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CPI President Lu Qizhou added, “I am excited to see our partnership taking a further step. Deeper cooperation in high-end aluminum fabrication will definitely broaden the space for both companies' development and accelerate our

common endeavor to move forward.”

About CPI China Power Investment Corporation (CPI) is one of the five Gencos in China and a comprehensive energy group integrating industries of power, coal, aluminum, railway and port. It is the only enterprise in China possessing assets in hydropower, thermal power, nuclear power and new energies at the same time, and is one of the three companies in China that are authorized to develop, build and operate nuclear power plants. By the end of 2010, CPI had installed capacity of 70.72GW, of which 17.74GW was hydropower, which ranked first among the five Gencos. Clean energy accounted for 30% of the total portfolio, the highest among the five Gencos. Meanwhile, CPI had coal production capacity of 72.75 million tons and aluminum production capacity of 2.08 million tons.

Spending under the agreement could reach more than $7.5 billion, the companies said in a release on Tuesday, although they declined to list any specific projects. A spokesman for Alcoa said the agreement was for a "long-range cooperation to look at a range of projects," but did not list any specific plans. CPI is one of five major power generators in China, owning about 70 gigawatts of power generation, and is China's second largest aluminum producer.

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The JV will focus on the technical expertise of both the companies to leverage this growing market. Further official information on the joint venture is awaited.

The terms of the joint venture were not disclosed.

In January, both the companies signed a memorandum of understanding (MoU) in Washington when the Chinese president Hu Jintao paid a state visit to the U.S.

ustin Rowlatt investigates the spread of Chinese influence around the planet and asks what the world will be like if China overtakes America as the world's economic superpower. In the first of two films, he embarks on a journey across Southern Africa to chart the extraordinary phenomenon of Chinese migration to Africa, and the huge influence of China on the development of the continent. While many in the West view Africa as a land of poverty, to the Chinese it is seen as an almost limitless business opportunity. From Angola to Tanzania, Justin meets the fearless Chinese entrepreneurs who have travelled thousands of miles to set up businesses.