ALCOA'S BOARD of directors on Wednesday approved further expansion plans for the Jamalco alumina refinery in Clarendon. An investment of US$1.2 billion will see the refinery's capacity double from 1.3 to 2.8 million tons per year.
A power plant is to be built at the refinery as part of the expansion with excess power to be sold to the Jamaican grid. The company aims to arrive at an agreement with Government over the supply of natural gas before the expansion.
The joint venture agreement between the government-owned Clarendon Alumina Producers (CAP) and Alcoa will also be revised prior to the expansion. Jamalco is currently owned 50:50 by Government and Alcoa and the expansion will see Alcoa's stake in the refinery increase to 77 per cent.
The first phase of the expansion, to add 150,000 tons per year, has already started and should be completed by the end of 2006. Completion of the second phase is expected by the end of 2007 and will add the remaining 1.35 million tons.
