Alcoa may invest in Brunei

Fri, 26 Sep 2003, 00:00 WIB | Source: AP

BANDAR SERI BEGAWAN: Alcoa Inc., the world's largest aluminum
producer, will conduct a study on the possibility of establishing
a US$1.5 billion aluminum smelting plant in Brunei, officials
said on Thursday.

Alcoa has signed a memorandum of understanding with the Brunei
Economic Development Board to carry out a two-year study to
evaluate the potential for developing a plant in this Southeast
Asian sultanate on Borneo island, both sides said in a joint
statement.

The proposed plant would create at least 1,000 jobs and have a
production capacity of about 300,000 metric tons of aluminum per
year.

Alcoa has been pursuing projects in countries such as Iceland,
Brazil and Russia to lower costs, while cutting operations in the
United States.

Brunei has been seeking to diversify its economy away from oil
and gas. --AP

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