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[August 2003]
Major Expansion at Alumina Plant in Suriname
Alcoa Inc (Pittsburgh, PA, USA) announced on 4 August 2003 that AWAC - Alcoa World Alumina & Chemicals which is 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%. The expansion has also been approved by BHP Billiton, the parent of Alcoa's joint venture partner in Suriname. Affiliates of Alcoa and BHP Billiton own 55% and 45%, respectively, of the Paranam facility.
The US$65 million expansion will begin immediately and should be finished by July 2005. Upon completion, the Paranam alumina facility will have the capacity to produce around 2.2 million metric tonnes of alumina per year. The investment and its resulting output will, says Alcoa, provide significant benefits to the overall economy of Suriname.
Alcoa's presence in the country dates back to 1916. The business, now known as Suriname Aluminum Co LLC or Suralco, originally focussed on mining bauxite. in 1958, Suralco signed an agreement with the government of Suriname to develop the country's hydropower and bring the aluminium industry to the country. Suralco is now owned by AWAC.
ENDS