Alcoa outlines plan for San Ciprián aluminium smelter
Aloca has signed a plan to boost the long term future of its San Ciprián aluminium smelter.
Its subsidiary Alcoa Inespal has formed an agreement with Ignis Equity Holdings, the Spanish government and Galician state government to enhance the long-term viability of the San Ciprián operations in Cervo, Lugo, Spain.
Alcoa’s Global Vice President Energy Álvaro Dorado Baselga, aid: “We expect to use the momentum created today to progress dialogue with our remaining stakeholders, particularly the national Trade Unions, and the local Workers Council, and reach the final elements necessary for San Ciprián’s future.”
Alcoa has operated San Ciprián for a number of years in a challenging economic environment, primarily due to the high cost of energy.
Following a robust sale process that did not result in a viable bid for 100% of the San Ciprián operations, a potential partnership with Ignis EQT emerged.
The Memorandum of Understanding between the groups outlines a process for the parties to work cooperatively toward the common objective of improving the long-term outlook for the San Ciprián operations.
The MoU will focus on: A short-term focus on continued dialogue with San Ciprián’s workers representatives for the stability of the operations through prioritization of restarting the smelter over capital investments that can be deferred to a later date.
