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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