Alcan pledges $1B in ‘11 to revisit long-standing expansion plans
Dec 15, 2010 | 10:42 AM
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Rio Tinto Alcan has pledged more than $1 billion in funding to press ahead with long-standing greenfield and brownfield projects in Canada, including the first phase of its new smelter at Saguenay-Lac-Saint-Jean in Quebec and work on the modernization of its Kitimat smelter in British Columbia.
Both Canadian projects have been in the pipeline for several years but were delayed due to the global economic crisis.
Improvement in the aluminum market justified the investment announced Tuesday, a company spokesman said.
The first phase of the Saguenay plant, which will replace the existing 170,000-tonne Arvida smelter, will cost $758 million and will include 38 posts with annual aluminum capacity of 60,000 tonnes. Production is expected to start in 2013.
The initial step will also include infrastructure required for two subsequent phases, bringing output to 460,000 tonnes annually. The smelter will be powered by hydroelectricity.....
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