Alunorte will use US$310 million loan to expand production

30/07/2004 - 13h31

Rio - Alunorte - Alumina do Norte - a subsidiary of the Vale do Rio Doce Company, has obtained a US$310 million loan from a pool of foreign banks. An insurance policy on the loan, for political risk, was banked by the governments of Germany and Norway.

Alunorte has scheduled investments totalling almost US$583 million, in order to raise its annual output from 1.8 million tons to 4.2 million tons.The expansion project is to be concluded in the first half of 2006.

Agência Brasil
Reporter: Alana Gandra
Translator: Allen Bennett
08/02/2004

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