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

Empowering women in engineering through B-BBEE

Jan 13, 2020
Andrew Yorke
Working to embrace the spirit of transformation and developmen.

Cheap cement imports crippling local industry

Jan 16, 2020
Databuild CEO Morag Evans
Local cement manufacturers are being severely undermined by cheap imports from countries…

Repo rate cut by 25 basis points

Jan 16, 2020
Governor_Lesetja_Kganyago_SARB1
The Reserve Bank has reduced the repo rate by 25 basis points to 6.25% in line with…

Property in 2020 - here's what's happening

Jan 16, 2020
Carl Coetzee CEO of BetterBond
With the political, economic and social landscape in South Africa being what it is, i.e.…

New hotspots driving cost hikes in key data centre markets - thriving market in South Africa

Jan 21, 2020
Dan Ayley Turner and Townsend
Major global data centre markets are seeing soaring construction costs as development in…

Please publish modules in offcanvas position.