Oct 4 2006
Hydro is considering the possibilities of producing aluminium in Angola, as part of its strategy to position itself in countries with favourable conditions for future energy supply.
In cooperation with the authorities in Angola, Hydro is now discussing the possibility of entering the next phase of reviews and a feasibility study.
Implementing major projects is one of Hydro's primary areas of expertise and such an enterprise would be relevant for both of the company's business areas, Oil & Energy and Aluminium. As part of its business development Hydro is investigating opportunities in several countries where energy is available at competitive prices.
Hydro has been present in Angola for more than 15 years and is participating in projects within the oil and gas sector.
The new concept which Hydro is now considering in cooperation with Angolan authorities consists of a hydropower facility with a capacity of 1,635 MW and an aluminium works with an annual capacity of 600,000 tonnes of primary metal. So far, no decision has been made concerning Hydro's share of ownership if such a development in Angola were to be realised.
Hydro has previously announced a joint venture project in Qatar for the building of a world-scale aluminium plant. The plant is scheduled to commence production in 2009, reaching full capacity in 2010.