March 14, 2012 / 7:13 AM / 6 years ago

Norsk Hydro postpones alumina project in Brazil

OSLO, March 14 (Reuters) - Norwegian aluminium group Norsk Hydro postponed the construction of its planned CAP alumina refinery in Barcarena in Brazil, the company said in a statement on Wednesday.

“The main reasons for the postponement of the CAP project are the uncertainty related to short- and medium-term aluminium supply/demand balance and the development in the world economy,” it said.

The refinery was scheduled to start production in 2015.

Hydro has a 81 percent stake in the CAP alumina refinery after it bought Vale’s 61 percent share in the project last year.

Reporting By Victoria Klesty

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