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CAP Postpones New Alumina Refinery Project in Barcarena, Brazil

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Hydro, a global supplier of aluminium, announced that the building of a new alumina refinery of Companhia de Alumina do Para (CAP) has been postponed.

CAP is a joint venture company, 81% of it is owned by Hydro and the remaining 19% by Dubal. The new alumina refinery will be located in Barcarena, Brazil and is scheduled to commence production in 2015. The facility will be supplying raw material to produce aluminium.

CAP’s Board of Directors has made the decision to postpone the CAP project due to two major reasons: one is the uncertainty associated with short term and medium term aluminium supply and demand balance and the other being the development in the global economy.

Johnny Undeli, Executive Vice President and head of bauxite and alumina operations at Hydro, stated that the postponement of the CAP alumina project has not changed the company’s long-term confidence in the CAP project and the market for aluminium and alumina. Economic developments in several counties have resulted in lower production capacities than anticipated by their customers, added Undeli.

Source:

http://www.hydro.com/

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