MONTREAL, April 2 (Reuters) - Alcan Inc. said on Monday it is examining options for the proposed expansion of its ISAL aluminum smelter in Iceland after residents of a local town voted against the project.
"Alcan has noted the results of the public consultation, and will now carefully review all available options," Michel Jacques, president and chief executive of Alcan Primary Metal Group, said in a statement.
Residents of Hafnarfjordur, near Iceland's capital city of Reykjavik, voted 50.3 percent against a local urbanization plan that included the expansion of the ISAL smelter, Alcan said.
Alcan, the world's second-largest market of primary aluminum, plans to expand ISAL's annual production capacity to 460,000 tonnes from 180,000 tonnes, making it Europe's largest aluminum smelter.
Start-up of the expansion is scheduled for 2010, with full production set for early 2011.
Alcan previously obtained a block of energy and Icelandic government approvals for the smelter expansion, the company said.
Alcan shares were up 7 Canadian cents at C$60.25 on the Toronto Stock Exchange on Monday morning and off 7 cents at $52.13 on the New York Stock Exchange.
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