Alcoa announces partnership with Chinese utility that could lead to $7.5 billion investment

WASHINGTON （AP） - Aluminum company Alcoa Inc. signed an agreement with a Chinese power company to develop clean energy and aluminum-smelting facilities with investments worth as much as $7.5 billion in coming years.

Alcoa said Tuesday it signed the agreement with China Power Investment Corp. for a broad range of aluminum and energy projects.

Alcoa didn't disclose financial details of the partnership with China power.

Shares of Alcoa rose 33 cents, or 2 percent, to $16.30 during afternoon trading.