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| August 4, 2003
Alcoa World Alumina & Chemicals, BHP Billiton to Expand Suriname Alumina Refinery by 250,000 Metric Tonnes
PITTSBURGH--(BUSINESS WIRE)--Aug. 4, 2003--Alcoa Inc. (NYSE:AA)
announced today that Alcoa World Alumina & Chemicals (AWAC), a global
alliance between Alumina Limited (40%) and Alcoa (60%), will expand
capacity at its Paranam alumina refinery in Suriname by 250,000 metric
tonnes per year, an increase of approximately 12 percent. The
expansion has also been approved by BHP Billiton, the parent company
of Alcoa's joint venture partner in Suriname. Affiliates of Alcoa and
BHP Billiton own 55% and 45%, respectively, of the Paranam facility.
The $65 million dollar expansion will begin immediately and should
be finished by July 2005. Upon completion, the Paranam alumina
facility will have the capacity to produce approximately 2.2 million
metric tonnes of alumina per year. The investment and its resulting
output will provide significant benefits to the overall economy of
Suriname.
Alcoa's presence in Suriname extends back to 1916. The business,
now known as Suriname Aluminum Company, L.L.C. (Suralco), originally
focused on mining bauxite. In 1958, Suralco signed an agreement with
the government of Suriname to develop the country's hydropower and
bring the aluminum industry to the country. Suralco is owned by Alcoa
World Alumina and Chemicals (AWAC).
As with all its operations, Alcoa will take steps to ensure the
expansion project meets the company's high standards for sustainable
development.
Alcoa is the world's leading producer of primary aluminum,
fabricated aluminum and alumina, and is active in all major aspects of
the industry. Alcoa serves the aerospace, automotive, packaging,
building and construction, commercial transportation and industrial
markets, bringing design, engineering, production and other
capabilities of Alcoa's businesses as a single solution to customers.
In addition to aluminum products and components, Alcoa also markets
consumer brands including Reynolds Wrap(R) aluminum foil, Alcoa(R)
wheels, and Baco(R) household wraps. Among its other businesses are
vinyl siding, closures, precision castings, and electrical
distribution systems for cars and trucks. The company has 127,000
employees in 40 countries. For more information go to www.alcoa.com
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