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Aluar to invest roughly US$500mn in final stage of expansion - Argentina

Thursday, Oct 16, 2008
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Argentine aluminum producer Aluar (Buenos Aires: ALUA) will invest nearly US$500mn in the final stage of the expansion at its Puerto Madryn plant, where the company plans to add 96 electrolytic cells, a company executive confirmed for BNamericas. Aluar is also in the process of investing US$315mn in another stage of the expansion where it will add 72 more cells, the executive said. Works are aimed at pushing up the plant's aluminum capacity by close to 105,000t/y, to be tagged for the domestic market, Aluar recently told the Buenos Aires stock exchange in a statement. In June, Aluar fired up 24 new electrolytic cells to complement the first stage of the company's expansion project, which helped boost production capacity by roughly 137,500t, taking output from 272,500t/y to 410,000t/y. The latest expansion will take the company's total capacity to 515,000t/y. Aluar, Argentina's only aluminum producer, exports some 85% of its production, mainly to the US, Europe and Asia, and is controlled by the Madanes Quintanilla family.

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