Century Aluminum reaches new power agreement with Santee Cooper
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Update time : 2021-03-05 22:59:20
It was reported that Century Aluminum has reached a three-year power agreement with Santee Cooper, which will help its Mount Holly plant relaunch a second pot line.
The new agreement will come into force on April 1. According to the contract, Century Aluminum will be allowed to purchase electricity at a fixed price, and the firm will restart another 25% of the production capacity at its plant which was closed in mid-2019.
Craig Conti, Chief Financial Officer at Century Aluminum, said that the resumption was estimated to cost US$5 million, and the firm is also planning to invest US$50 million to rebuild the cells in the production line, which will let the plant reach an annual production capacity of 170,000 tons.
