Alcoa Approves $1.6 Billion Investment Plan
October 10, 2005
Alcoa recently announced that its board of directors has approved investments in Brazil that will total $1.6 billion in the company's Brazilian upstream operations, including a 2.1 million metric ton per year (mtpy) expansion of the Alumar consortium alumina refinery in Sao Luis, Maranhao; the creation of a bauxite mine in Juruti, Para, which will initially produce 2.6 million mtpy; and the modernization of the Pocos de Caldas aluminum smelter, Minas Gerais. "Our Brazilian operations are among the lowest cost facilities in our system, as well as in the world," said Alain Belda, chairman and chief executive officer. "These investments, coupled with the ongoing expansion of captive energy production in Brazil, will further strengthen Alcoa's position on the global cost curve and allow us to meet growing global demand needs."
The company's website is located at www.alcoa.com.