Qatar to build huge aluminium plant

Norwegian industrial group Norsk Hydro is to build a $3 billion aluminium plant in the Gulf Arab state of Qatar.

    Norsk plans to double production within a decade

    In a joint venture with state-owned Qatar Petroleum (QP), Norsk Hydro Chief Executive Eivind Reiten said on Sunday the plant would produce 570,000 tonnes a year.

     

    If all goes to plan, the plant will be among the world's six biggest aluminium smelters with tentative plans to double capacity within a year.

     

    Reiten said QP would own 51% and Norsk Hydro 49% of the primary aluminium plant and a dedicated gas-fired power plant.

       

    Production is expected to start in 2008, and the plant south of the capital Doha would reach full capacity in 2009.

       

    Norsk Hydro now sells about 3.3 million tonnes of aluminium annually, including 1.5 million tonnes of its own primary production and another 1.8 million from remelted scrap and ingots and metal products supplied by strategic partners.

       

    Norsk Hydro shares closed at 475.50 Norwegian crowns ($77.69) on Friday.

    SOURCE: Reuters


    YOU MIGHT ALSO LIKE

    From Zimbabwe to England: A story of war, home and identity

    The country I saw as home, my parents saw as oppressors

    What happens when you reject the identity your parents fought for and embrace that of those they fought against?

    Becoming Ocean: When you and the world are drowning

    Becoming Ocean: When you and the world are drowning

    One woman shares the story of her life with polycystic kidney disease and sees parallels with the plight of the planet.

    The evening death came for me: My journey with PTSD

    The evening death came for me: My journey with PTSD

    On a gorgeous Florida evening, a truck crashed into me. As I lay in intensive care, I learned who had been driving it.