01 APRIL 2013Newstimes.com
Alcoa to invest $42 million on aluminum plant modernization
Edited by : AL CIRCLE
1 min read
State officials say Alcoa Inc. is set to invest $52 million in northern New York under an agreement that continues to provide low-cost hydropower to the aluminum company.
Gov. Andrew Cuomo says Alcoa will spend $42 million to prepare for modernization and added capacity at its plant in Massena. Cuomo says the company will provide another $10 million to the North Country Economic Development Fund serving St. Lawrence, Franklin, Essex, Jefferson, Lewis, Hamilton, and Herkimer counties and on the Akwesasne Mohawk Reservation.
The allocation of 478 megawatts of power from the New York Power Authority is part of a deal intended to maintain at least 900 jobs at the aluminum plant.
Alcoa agreed in 2008 to spend at least $600 million upgrading its operations in exchange for the hydropower.
Gov. Andrew Cuomo says Alcoa will spend $42 million to prepare for modernization and added capacity at its plant in Massena. Cuomo says the company will provide another $10 million to the North Country Economic Development Fund serving St. Lawrence, Franklin, Essex, Jefferson, Lewis, Hamilton, and Herkimer counties and on the Akwesasne Mohawk Reservation.
The allocation of 478 megawatts of power from the New York Power Authority is part of a deal intended to maintain at least 900 jobs at the aluminum plant.
Alcoa agreed in 2008 to spend at least $600 million upgrading its operations in exchange for the hydropower.
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