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