BEIJING, Sept. 29 (Xinhua) -- A Chinese aluminium company and an Australian university signed an agreement here Saturday to set up an international light alloy research center.

The research center to be set up by Aluminium Corporation of China Ltd, also known as Chalco, and Monash University of Australia, will focus on design, processing, performance analysis, promotion and application of light alloys as well as talent training.

The establishment will provide strong technology and research support for Chalco and other Chinese companies who plan to have long-term investment in Australia, sources from the company said.

Chalco, China's largest aluminum maker, won the bid for Australia's Aurukun bauxite project in March this year after edging out BHP Billiton, Xstrata, Comalco Aluminium, and Alcoa and Alcan.

The project, with a construction cost of 3 billion Australian dollars(about 2.41 billion U.S. dollars), is designed to extract 7.5 million tons of bauxite and refine 2.1 million tons alumina annually.

Chalco is listed in New York Stock Exchange, Hong Kong Stock Exchange and Shanghai Stock Exchange. Its market value exceeds 80 billion U.S. dollars.