Alcan inks deal with Areva to provide power for Earth-friendly aluminum plant in Quebec

MONTREAL (AP) Aluminum producer Alcan said Tuesday it will pay French firm Areva $130 million to build an energy station in Saguenay, Quebec. The energy station will help power Alcan's planned manufaturing plant to develop AP50 smelting technology, which the company says increases productivity and cuts industrial emissions. The plant is Alcan's initial step in creating up to 450,000 tons of metal production capacity, based on renewable hydroelectricity to help cut greenhouse gases. Alcan is currently demolishing older energy facilities and said the site will be ready for construction by 2008. Areva will be tasked with the design, engineering and construction of the high-voltage energy station. Shares of Alcan Inc. fell $1.24 Tuesday to $85.71 in midday trading.