Pechiney signs Venezuelan contract.(to invest US$260 million over three years in Bauxilum)(Brief...

The French aluminium producer Pechiney has signed a formal contract to invest US$260 million over three years in Bauxilum, Venezuela's state-owned bauxite and alumina producer. The upgrade programme is designed to increase Bauxilum's alumina production from around 1.7 Mt/y to 2.1 Mt/y. Pechiney will not have a direct interest in Bauxilum, but will take its return in the form of the 400,000 t/y of additional alumina.

Pechiney was selected as the winning bidder for the contract three months ago (MJ, August 11, p. 103), although the final agreement was only reached this w