Alcan to announce Montreal area investment Monday

MONTREAL - Alcan Inc. said on Friday it expects to announce an "important development" for the Montreal region on Monday.
 
The company, which is the world's second-largest maker of primary aluminum, declined to offer details, but suggested the investment was not of the same financial magnitude as the company's recent project announcements.

Last month, Alcan unveiled plans to spend up to $1.8 billion over 10 years to add 450,000 tonnes of aluminum smelting capacity using the latest technology at its operations in Quebec's Saguenay region.

Quebec Premier Jean Charest, as well as Raymond Bachand, the Canadian province's minister for economic development, innovation and trade and other dignitaries were to attend Monday's event.