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Rio Tinto to invest USD 50 million in cable plant in Paraguay
Edited by : AL CIRCLE
1 min read
Bnamericas reported that Canadian aluminum producer Rio Tinto Alcan has pledged to invest USD 50 million to install a cable production plant in Paraguay.
Mr Francisco Rivas trade and industry minister of Paraguay said that "This will fill a major void we have, as we import all the cables that we are so highly dependent on."
In June, Paraguay's President Mr Fernando Lugo received the study needed to negotiate with Rio Tinto Alcan over the installation of USD 4 billion aluminum plant in the country. The plant will be Rio Tinto's largest worldwide, with capacity to produce more than 670,000t/y. It is scheduled to start operating in 2016.
Mr Francisco Rivas trade and industry minister of Paraguay said that "This will fill a major void we have, as we import all the cables that we are so highly dependent on."
In June, Paraguay's President Mr Fernando Lugo received the study needed to negotiate with Rio Tinto Alcan over the installation of USD 4 billion aluminum plant in the country. The plant will be Rio Tinto's largest worldwide, with capacity to produce more than 670,000t/y. It is scheduled to start operating in 2016.
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