Alcoa today announced that it is prepared to proceed with the next phase of the modernization of its Massena, NY operations, once the company receives a Record of Decision (ROD) on the Grasse River that is in line with the Proposed Remedial Action plan issued by the Environmental Protection Agency last fall.
The next phase includes spending $52 million for work that will begin in June 2013, including $10 million toward economic development in the North Country.
“Thanks to the leadership of U.S. Sen. Charles Schumer, Gov. Andrew Cuomo, the New York Power Authority and many other government officials, employees, union leaders and community members, we are ready to take this important step toward modernizing our Massena facilities,” said Alcoa Executive Vice President and President of Global Primary Products Chris Ayers. “Modernizing Massena will help us move farther down the aluminum cost curve and secure Alcoa’s place as a vital part of the North Country’s economy for decades to come.”
Once a ROD is received, the next phase of the modernization will include site work and support projects in preparation for the construction of a new potline at the location’s Massena East plant. The company expects to spend $52 million on this modernization phase through 2015, including the $10 million commitment toward economic development.
Under the terms of the contract, NYPA will supply power to the operations in Massena for a term of 30 years following the expiration of Alcoa’s current power contract in 2013, with the option to extend the contract for an additional 10 years under certain economic conditions. In turn, Alcoa must invest a minimum of $600 million to modernize its operations.
Source: http://www.alcoa.com/