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

    'We were forced out by the government soldiers'

    'We were forced out by the government soldiers'

    We dialled more than 35,000 random phone numbers to paint an accurate picture of displacement across South Sudan.

    Interactive: Plundering Cambodia's forests

    Interactive: Plundering Cambodia's forests

    Meet the man on a mission to take down Cambodia's timber tycoons and expose a rampant illegal cross-border trade.

    Pakistan's tribal areas: 'Neither faith nor union found'

    Pakistan's tribal areas: 'Neither faith nor union found'

    Residents of long-neglected northwestern tribal belt say incorporation into Pakistan has left them in a vacuum.