Alcan denies talks with SUAL on Coega smelter

Posted On Monday, 18 April 2005 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

Aluminium giant Alcan's chief executive said this week he has not spoken with a Russian investor who is reportedly interested in the Coega aluminium smelter

Property-Housing-ResidentialA South African newspaper reported this month that SUAL, Russia's second-largest aluminium producer, had talked to South African officials about reviving the proposed 660 000-t smelter project, which has been stalled for months as Alcan assesses it.

"I don't know really what (SUAL's) true interest would be . . . I talk to (SUAL president Brian Gilbertson) all the time but not about this," Alcan chief executive Travis Engen said.

Engen said the feasibility study for the project, located 20 km (13 miles) from the southern city of Port Elizabeth, should be out in the second quarter, although it won't be synchronized with Alcan's quarterly results slated for May 9.

Montreal-based Alcan's involvement with Coega stems from its 2003 acquisition of France's Pechiney, which had agreed to be lead investor with a 49% stake.

Alcan is the world's second-biggest producer of primary aluminium. It also makes a vast range of aluminium products.

Speaking to an audience in Vancouver, British Columbia, Engen said Alcan's top priority this year is to complete the integration of Pechiney, the smaller rival it bought 16 months ago for €4-billion. – Reuters.

Last modified on Thursday, 26 June 2014 12:25

Most Popular

Strong demand boosts Balwin as it claws back three months of no construction activity due to covid lockdowns

May 18, 2021
The Huntsman 2
JSE listed Balwin Properties, a developer that cares about environmentally responsible…

Construction kicks-off at the R500-million Boardwalk Mall

May 17, 2021
Architects presective of the exterior  of the Boardwalk Mall
Flanagan & Gerard Group and Emfuleni Resorts, a subsidiary of Sun International (JSE:…

Growthpoint leverages development prowess to re-imagine La Lucia Mall as a vibrant suburban mixed-use experience

May 17, 2021
Growthpoint Properties (JSE: GRT) is applying its development expertise to unlock…

Successful degearing and continued dividend payments has allowed Investec Property Fund to continue rewarding shareholders

May 19, 2021
Andrew_Wooler_IPF (1)
Investec Property Fund, (“IPF”, or “the Fund”) today announced a resilient set of…

Residential sectional title sales again on the rise

May 27, 2021
Over the past 15 years, the sectional title market in South Africa has become entrenched…

Please publish modules in offcanvas position.