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Greenland, Alcoa Plan To Construct Hydro-powered Aluminum Smelter
The agreement also encompasses a hydroelectric power system and related infrastructure improvements, plus a port. The accurate size and expenses for the overall deal will be announced when the project plan is finalized. Under the MOU, both Greenland and Alcoa will begin site selection, environmental studies, engineering assessments, and other aspects of the project. If the viability of the project is proved, ground breaking for the hydroelectric power system would be expected in 2010 and the smelter in 2012. The smelter could then start operation by the end of 2014. “Alcoa has a disciplined growth strategy, as aluminum demand is strong and consumption is expected to grow significantly over the next decade. We have nearly 120 years of experience in developing and operating aluminum smelters around the world in a sustainable manner, sensitive to the environment, and valued by the communities in which Alcoa operates,” said Alcoa Chairman and CEO Alain Belda. “We will bring our technology and management capabilities to this venture to ensure the development of a highly-competitive, environmentally-friendly smelter that adheres to our stringent Values and delivers sustainable development.” “The aluminum industry offers an excellent opportunity that we may in Greenland exploit our hydropower resources for the benefit of the country’s occupational and business development,” stated Minister of Trade, Labor and Vocational Training, Siverth K. Heilmann. “At the same time the project is in full accordance with the Cabinet’s long-term goal of replacing hydrocarbon-based energy production with hydropower, one of the reasons being concern for the global environment. “I have visited smelters in different parts of the world, and through personal experience learned about Alcoa’s consideration for the environment and commitment to ensure that a future smelter will also in Greenland become an asset to the local community, socially and educationally, as well as economically,” said Heilmann. Asked about the choice of Alcoa as partner, Heilmann explained, “Alcoa has shown their determination to invest considerable resources in the development of this project together with us. Simultaneously, they have been ready to meet Greenland’s requirements as to the pace of the project development, the environmental process, efforts in training and education etc.” Preferred sites for the proposed smelter will be collaboratively identified by the Greenland Home Rule Government and Alcoa. Upon completion, this development project would mark the largest investments in the state’s history. Additionally, the investment is expected to kindle economic growth and manufacturing variety, create up to 600 direct, stable jobs, and contribute to amplify Greenland’s overall productivity and economic autonomy. The investment could pave way for more powerful and high-performance auto equipment and parts like the KYB. Article Directory: http://www.articledashboard.com Mike Bartley, 49, is a professional automotive journalist domiciled in Irvine, CA. He travels from one state to another to cover the hottest auto shows, racing events and automotive revelations. His penned compositions cover press releases, reviews, and suggestions. Where the auto action is, that’s exactly where you can find Mike. You can visit KYB for more information. |
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