Ceramic Industry

Alcoa Signs MOU With Government Of Trinidad and Tobago

June 2, 2004
Alcoa has signed a MOU under which Alcoa and the government of the Republic of Trinidad and Tobago will build an aluminum smelter.

Alcoa has signed a memorandum of understanding (MOU) under which Alcoa and the government of the Republic of Trinidad and Tobago will build a state-of-the-art, low emission, environmentally friendly aluminum smelter with a capacity of at least 250,000 metric tons per year (mtpy) in Trinidad. The new smelter and related facilities -- including a power plant; a new anode plant; and downstream, fabricated opportunities -- are projected to cost in excess of $1 billion. The MOU calls for Alcoa to take at least a 60% ownership stake in the smelter, with a government state enterprise having responsibility for the remainder. Alcoa will take a lead role in the management and operation of the smelter and will have a right to 60% of the metal produced, while the government agency will have a right to the remaining 40%, with the commitment to make this metal available to downstream investors, including Alcoa, Sural of Venezuela and the Trinidad and Tobago manufacturing sector.

For additional details, visit http://www.alcoa.com.