Wednesday, March 05, 2003 ALCOA INC. Quebec Premier Bernard Landry and Alcoa Chairman and CEO Alain Belda have signed a memorandum of understanding for expanding Alcoa's aluminum plant in Deschambault, Quebec to allow the increase of annual production capacity from 250,000 to 570,000 tonnes. The expansion will entail investments of more than CAD1 billion and the creation of 6,500 direct and indirect jobs for the length of the construction period. Alcoa has agreed to create a minimum of 1,250 jobs, most of which will be in the Quebec aluminum processing industry and more than 250 jobs for the expansion of the Deschambault plant and will be assessed heavy penalties if it doesn't meet this commitment. When the expansion of Alcoa's Deschambault and Baie-Comeau aluminum plants has been completed, the combined capacity of the company's three plants in Quebec will be 1.4 million tonnes per year. Alcoa has set January 2006 as the start date for the project, with a production start date of 2008. The new facilities should be ready for full operations no later than 2013. (Complete Text - News Release) PDF
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Wednesday, March 05, 2003
