Trinidad in talks with Brazilian company on aluminum project
Tuesday, 13 Oct 2009
Bloomberg reported that Brazil government of Trinidad & Tobago is in talks with a Brazilian company to build an aluminum smelter on the island.
Mr Conrad Enill energy industry minister of Brazil said that the company seeks to build a smelter capable of producing 125,000 tonnes per year of the metal.
Mr Conrad said that “We are still in discussions with the Brazilian partner who has requested that we go ahead with it and we would make an investment decision by the Q2 of 2010.”
Trinidad is seeking to attract energy intensive industries such as aluminum makers interested in its abundant natural gas reserves. Alcoa Inc was interested in building an aluminum smelter in the Caribbean nation in 2006 before the project met environmental opposition.
Aluminum slumped 35% in the Q3 from a year ago after London Metal Exchange monitored warehouses inventories more than trebled. Aluminum is used in airplane parts, automobiles and beverage cans.
