May 30 -- South Africa is ``optimistic'' that plans by Alcan Inc. to build an aluminum smelter at Coega port will go ahead even if the Canadian company is taken over, Trade Minister Mandisi Mpahlwa said.
Penalties may apply if construction of the smelter is canceled, Mpahlwa told reporters in Cape Town today.
Alcoa Inc. said on May 7 that it plans to make an unsolicited $27.7 billion takeover offer for Alcan. Norsk Hydro ASA and Rio Tinto Group may also bid for the Montreal-based company, newspapers reported this week.
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