Alcoa Invests NOK 0.5 bn in Aluminum Plant in Mosjøen, Norway
The American aluminum corporation Alcoa puts NOK 0.5 billion into increasing production capacity at its smelter in Mosjøen, Norway.
This week, American aluminum giant Alcoa announced a USD 51 million-project to increase production capacity at its plant in Mosjøen plant in Norway.
Alcoa Mosjøen currently has a name tag capacity of what the company may produce with optimal conditions of 200,000 metric tons annually. With the investment, the company wants this to increase to 214,000 tons by the end of 2026, according to a press statement.
The project positions Mosjøen to continue meeting the needs of customers that want Alcoa’s high-quality low-carbon aluminum, the company writes. The demand for aluminum is currently high and prices have increased significantly in recent months.
“Mosjøen is already a top performing resource in the global Alcoa system and this investment reflects its operational qualities, the level of engagement for our employees, and the strong support from our many customers and stakeholders in society”, says Alcoa Vice President and COO John Slaven.
The process of producing aluminum requires huge amounts of electricity. Alcoa says the power leading to the location’s two power lines will be increased through improved electrical infrastructure, including installation of new high voltage cables and cabling equipment. The scheduled investment will also improve the location’s exiting anode production processes.
During the past three years, the Alcoa corporation has invested about USD 50 million into maintaining and profit-seeking capital projects at Alcoa Mosjøen.
Alcoa established operations at Mosjøen some 60 years ago. The aluminum plant is a cornerstone company in the industrial town.
This article was originally published in Norwegian and has been translated by HNN's Elisabeth Bergquist.