Alcoa Breaks Ground on $1.1 Billion Iceland Smelter; Fjardaal Smelter On Track to Make Aluminum in Spring 2007.PITTSBURGH & REYDARFJORDUR, Iceland -- Alcoa broke ground today on its 322,000 metric ton per year (mtpy) Fjardaal aluminum smelter in East Iceland, the company's first greenfield smelter in 20 years. Cost of the facility is estimated at approximately $1.1 billion. Upon completion, Alcoa Fjardaal will be one of the most efficient, environmentally-friendly, and safest smelters in the world. It is scheduled to begin production in the spring of 2007. Attending the ground-breaking ceremony in Reydarfjordur today were Bernt Reitan, Group President of Alcoa Primary Products; Valgerdur Sverrisdottir, the Minister of Industry and Commerce; Gudmundur Bjarnason, Mayor of Fjardabyggd Municipality; and Andy Greig, President of Bechtel's Mining and Metals Global Business Unit as well as parliamentarians from the northeast constituency, members from the environmental and business committees of parliament, aldermen from Fjardabyggd, and representatives from community, business and labor organizations in the East. Bechtel will manage the smelter construction in cooperation with the Icelandic engineering firm HRV HRV Croatia (ISO Country code) HRV Heart Rate Variability HRV Human Rhinovirus HRV Heat Recovery Ventilator HRV High Resolution Visible HRV Haute Resolution Visible HRV Hypersonic Research Vehicle HRV Hercules Recovery Vehicle . As many as 1800 people will be employed at the height of construction of the smelter. The smelter will create approximately 750 permanent jobs in the region. During the construction, emphasis will be placed on close consultation with the local community, safety of employees, and Alcoa's sustainable development Sustainable development is a socio-ecological process characterized by the fulfilment of human needs while maintaining the quality of the natural environment indefinitely. The linkage between environment and development was globally recognized in 1980, when the International Union philosophies to minimize the impact on the environment. Alcoa is the world's leading producer and manager of primary aluminum, fabricated fab·ri·cate tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: aluminum and alumina alumina (əl  `mĭnə) or aluminum oxide, Al2O3, chemical compound with m.p. about 2,000°C; and sp. gr. about 4.0. facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) foils and plastic wraps, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are vinyl siding Wikipedia is not the place for advertisement or self-advertising. Vinyl siding, first introduced to the exterior cladding market in the late 1950s, is an alternative to aluminum siding, fiber cement siding, and timber siding. , closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 120,000 employees in 41 countries and has been a member of the Dow Jones Industrial Average Dow Jones Industrial AverageThe best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. for 45 years and the Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance Sustainability Indexes since 2001. More information can be found at www.alcoa.com |
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