Slovalco is resuming aluminum production after more than three years

Aluminum smelter Slovalco, owned by Norsk Hydro (55%) and Penta (45%), is resuming aluminum production after more than three years. The company is investing more than €100m in the restart, and the state will support it with compensation for emissions allowance costs. Today it will start up the first of 226 electrolyzers, and by the end of February a hundred are expected to be running. For now it will operate at only 45% of capacity, producing 75,000 tons of aluminum a year, but it will be profitable even at that volume. The restart will create 200 jobs. Electricity is secured on market terms through a 10-year contract with state-owned Vodohospodárska výstavba and a multi-year contract with Slovenské elektrárne. A return to full capacity will depend on electricity and aluminum prices.

(pravda.sk, trend.sk)