Alcoa Inc. said it will expand and refurbish its Baie-Comeau, Quebec, smelter for $640 million by 2010.
The Baie-Comeau smelter in northeastern Quebec produces 436,000 metric tons of aluminum a year and employs 1,800. The announcement, made Dec. 16, will bring production to 547,000 metric tons in 2010.
Alcoa said it will modernize aluminum pot lines at Baie-Comeau, as well as increase its production capacity for aluminum rods.
The announcement was made at a Baie-Comeau news conference by Quebec Premier Bernard Landry and Alcoa chairman and chief executive Alain Belda. The Quebec government will give Alcoa a C$170 million loan without interest, Landry said.
The provincial Hydro-Quebec power utility will offer Alcoa preferential corporate rates for 175 megawatts of electricity, Landry said on Monday.
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