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Alcoa OKs next phase of Quebec investment plan

Alcoa OKs next phase of Quebec investment plan

Alcoa Inc. said Monday that it approved the next phase of a five-year, $2.1 billion investment plan for its trio of smelters in Quebec.
The aluminum company said the plan will reduce the costs associated with the smelters and the overall company. It will also increase production capacity by 120,000 metric tons per year and reduce greenhouse gas emissions, Alcoa said.
The plan includes 25-year power contracts for all three smelters and will allow one of the smelters to begin the last engineering phase of its modernization project.
Alcoa, based in Pittsburgh, said the investments will allow it to optimize its power usage at all three of the Quebec smelters.
In morning trading, Alcoa shares fell 20 cents to $10.73.


Updated : 2020-12-02 11:53 GMT+08:00