COMPANY SIGNS ENGINEERING, PROCUREMENT AND CONSTRUCTION MANAGEMENT (EPCM)
CONTRACT WITH SNC-LAVALIN, HATCH, AND MURRAY & ROBERTS
MONTREAL, July 11 /CNW Telbec/ - Alcan announced today that it has signed
a contract worth more than US$100 million with a joint venture consisting of
SNC-Lavalin, Hatch, and Murray & Roberts for the front-end engineering design
(FEED) and management of the first phase of the proposed COEGA Aluminium
smelter (360,000 tonnes/yr).
"Alcan is pleased to announce the signing of this contract, moving ahead
as planned with the COEGA Aluminium smelter project. The joint venture of
SNC-Lavalin, Hatch, and Murray & Roberts brings together a unique combination
of technical expertise, South African presence and project experience," said
Michel Jacques, President and CEO, Alcan Primary Metal Group.
SNC-Lavalin and Hatch already have offices in South Africa, as does
Murray & Roberts, a leading South Africa-based engineering and contracting
Group. The joint venture provides significant experience working on projects
on the African continent. The engineering team will be based in South Africa,
after an initial start-up phase of approximately six months in Montreal.
"Alcan looks forward to working with the joint venture partners as they
each share Alcan's commitment to environment, health, and safety and to
maximizing the project's benefits for South Africa," said Brent Hegger, CEO of
COEGA Aluminium. "Together the partners have demonstrated this commitment by
setting the target of zero Lost Time Accidents during the construction," he
added.
The FEED is expected to take nine months to complete and will provide
firm cost estimates and a critical path for construction, pending the Notice
to Proceed (NTP) from the COEGA Aluminium joint venture board. The second
phase of the project, which would bring aluminum production to an estimated
720,000 tonne/yr is also currently in development.
COEGA Project Status
Alcan signed a long-term energy agreement for the proposed smelter with
Eskom in November, 2006. The Industrial Development Corporation of South
Africa (IDC) will have a 15-percent stake. An additional five percent has been
reserved for Broad Based Black Economic Empowerment (BBBEE) partners. Alcan is
also in discussions with additional potential partners. The project has an
estimated total cost of US$2.7 billion for both phases and project financing
is expected to be used.
The greenfield project will use the latest version of Alcan's proprietary
AP3X series smelting technology, with world-leading environment, health and
safety performance. Greenhouse gas (GHG) emissions generated by AP technology
and energy consumption are among the lowest in the world (based on the
International Aluminium Institute's 2003 Survey results and CRU 2006 data,
respectively). Already, 6 million tonnes of global capacity are equipped with
AP technology and a further one million tonnes of additional capacity are
either under construction or being commissioned.
Phase I construction of the smelter is expected to begin in 2008 and is
subject to the successful completion of the project's next steps and financial
arrangements. Phase I is scheduled to come on line in 2010.
Alcan Inc. (NYSE, TSX: AL) is a leading global materials company,
delivering high quality products and services worldwide. With world-class
technology and operations in bauxite mining, alumina processing, primary metal
smelting, power generation, aluminum fabrication, engineered solutions as well
as flexible and specialty packaging, today's Alcan is well positioned to meet
and exceed its customers' needs. Alcan is represented by 68,000 employees,
including its joint ventures, in 61 countries and regions, and posted revenues
of US$23.6 billion in 2006. The Company has featured on the Dow Jones
Sustainability World Index consecutively since 2003. For more information,
please visit: www.alcan.com.
Statements made in this press release which describe the Company's
intentions, expectations or predictions may be forward-looking statements
within the meaning of securities laws. By their nature, forward-looking
statements involve risk and uncertainty; the Company's actual results or
actions could differ materially from those expressed or implied in such
forward-looking statements. Reference should be made to the Company's latest
Quarterly Report on Form 10-Q for a summary of factors that could cause such
differences.
%B M %C 1,3,18,21 %D Coega EPCM
For further information: Media Contact: Robert A. Valdmanis, +27 (0) 83
440 7520, robert.valdmanis@alcan.com; Anik
Michaud, +1-514-848-8151,
media.relations@alcan.com;
Investor Contact: Ulf Quellmann, +1-514- 848-8368,
investor.relations@alcan.com
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