Norsk Hydro: to resume normal operations at Alunorte
(CercleFinance.com) - Norway's Norsk Hydro has signed two agreements representing a milestone to resume normal operations at Alunorte, the world's largest alumina refinery, in the north of Brazil.
Alunorte had operated at 50% capacity since March, when the plant was hit by an extreme rainfall that caused flooding in the region.
Under the terms of the agreements, Hydro will pay out for combined investments, costs and fines estimated at 160 million Brazilian reals (around 33 million euros).
The aluminium producer will also present a financial guarantee of 250 million Brazilian reals (approximately 52 million euros) to ensure that the terms of the agreements are met.
Finally, Hydro has committed to invest up to 150 million Brazilian reals (about 31 million euros) in projects to support sustainable urban development in communities at nearby Alunorte.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Alunorte had operated at 50% capacity since March, when the plant was hit by an extreme rainfall that caused flooding in the region.
Under the terms of the agreements, Hydro will pay out for combined investments, costs and fines estimated at 160 million Brazilian reals (around 33 million euros).
The aluminium producer will also present a financial guarantee of 250 million Brazilian reals (approximately 52 million euros) to ensure that the terms of the agreements are met.
Finally, Hydro has committed to invest up to 150 million Brazilian reals (about 31 million euros) in projects to support sustainable urban development in communities at nearby Alunorte.
Copyright (c) 2018 CercleFinance.com. All rights reserved.