Business News Americas
Alcasa asks for US$90.4mn in financial aid - Venezuela
Edited by : AL CIRCLE
1 min read
Venezuelan state aluminum reducer Alcasa has asked the government for US$90.4mn to cover payroll expenses and the purchase of raw materials, a Sintralcasa union leader told BNamericas.
"In addition to covering these payments, the money will make it possible to buy parts to put cells back into operation," the union leader said.
Alcasa has capacity to produce 170,000t/y of aluminum from 396 reduction cells, but it currently only has 178 cells in operation.
Under normal conditions, Alcasa's production lines should only have three or four cells out of service at a time for repairs or maintenance.
Up to 2008, the company produced over 160,000t/y. "In 2010, it closed with 96,000t and in 2011 production fell to 69,000t," the union leader said.
The Alcasa plant is located in the Matanzas industrial area in Puerto Ordaz city in eastern Venezuela's Guayana region. The company is controlled by state heavy industry holding CVG.
"In addition to covering these payments, the money will make it possible to buy parts to put cells back into operation," the union leader said.
Alcasa has capacity to produce 170,000t/y of aluminum from 396 reduction cells, but it currently only has 178 cells in operation.
Under normal conditions, Alcasa's production lines should only have three or four cells out of service at a time for repairs or maintenance.
Up to 2008, the company produced over 160,000t/y. "In 2010, it closed with 96,000t and in 2011 production fell to 69,000t," the union leader said.
The Alcasa plant is located in the Matanzas industrial area in Puerto Ordaz city in eastern Venezuela's Guayana region. The company is controlled by state heavy industry holding CVG.
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