Alcoa, China Power Agree $7.5 Billion of Energy, Smelter Plans
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Alcoa Inc., the biggest U.S. aluminum producer, agreed with China Power Investment Corp. to work on $7.5 billion of clean-energy and smelting projects, as China seeks to cut pollution and energy costs.
The companies plan to develop wind- and solar-energy projects and “state-of-the-art” aluminum-smelting plants in China in the “coming years,” New York-based Alcoa said in a statement yesterday. The companies may also look at opportunities to collaborate outside China.