Pechiney deal to expand Venezuelan aluminum mine
Date: 02-May-02
Country: VENEZUELA
The deal commits the Paris-based Pechiney to increase production at the Bauxilum mine to 2 million tonnes from 1.7 million tonnes in two years, the Corporacion Venezolana de Guyana (CVG) statement said.
Under the terms of the deal, CVG will use income from the increased production to pay back the Paris-based Pechiney over a 14-year period.
Some $178 million of the Pechiney investment is earmarked for engineering and construction at the mine, while the remainder will be used to help clean up environmentally hazardous waste.
