Alcoa Plans to Restart Smelting Capacity
Portland Aluminum is an unincorporated joint venture with 358,000 mt/y of total capacity, and Alcoa Corp. has 197,000 mt/y of consolidated capacity. Once the restart is complete, Portland Aluminum will operate at approximately 95% of total capacity and Alcoa Corp. will have approximately 186,000 mt/y of its consolidated capacity at Portland operating.
Energy to operate the restored capacity will be supplied under a new four-year agreement with power generator AGL. It will supplement the earlier announced five-year energy agreements with AGL, Alinta Energy and Origin that commenced on August 1. The restart’s total cost is anticipated to be approximately $28 million of which Alcoa’s share is approximately $9 million. (NYSE).