Chinese Investment Backs Trinidad Aluminum Smelter
125,000-metric tons/year project gets $400 million from Ex-Im Bank of China
125,000-metric tons/year project gets $400 million from Ex-Im Bank of China
A new, 125,000-metric tons/year aluminum smelter is being planned for a site in Trinidad and Tobago, with a majority of the funding to come from the Export-Import Bank of China. Alutrint Ltd. is budgeted at $540 million, with $400 million of that now set to come from the Chinese backer.
Trinidad’s government will contribute the remaining $140 million to the project.
The operation will be 60% ownd by the Trinidad’s National Energy Corp., while the remainder will be held by Venezuelan bauxite refinery Sural C.A. There is no information on the timing of the project, but equipment and labor will be supplied by the China National Machinery & Equipment Import & Export Corp. Trinidad Prime Minister Patrick Manning, who announced the project, has decline to state when it production will begin.
A similar project at a nearby site was announced by Alcoa in 2004, with a budget of $1.5 billion. That venture was sidetracked by environmental objections.
With abundant natural gas resources, Trinidad is a popular site for industrial developments in the Southern Caribbean.
Trinidad’s government will contribute the remaining $140 million to the project.
The operation will be 60% ownd by the Trinidad’s National Energy Corp., while the remainder will be held by Venezuelan bauxite refinery Sural C.A. There is no information on the timing of the project, but equipment and labor will be supplied by the China National Machinery & Equipment Import & Export Corp. Trinidad Prime Minister Patrick Manning, who announced the project, has decline to state when it production will begin.
A similar project at a nearby site was announced by Alcoa in 2004, with a budget of $1.5 billion. That venture was sidetracked by environmental objections.
With abundant natural gas resources, Trinidad is a popular site for industrial developments in the Southern Caribbean.
