Venezuela awards $650 mln aluminum project to group

www.forbes.com Reuters, 01.31.03, 4:58 PM ET   

CARACAS, Venezuela, Jan 31 (Reuters) - Venezuela's state-owned aluminum smelter CVG-Alcasa said Friday it had chosen a consortium comprising Swiss-based Glencore International AG, Pechiney of France <PECH.PA> and U.S. construction firm Fluor Daniel (nyse: FLR - news - people) to build a fifth production line at the plant.

The $650 million Alacasa Line V project will more than double the smelter's existing output capacity to 450,000 tonnes a year from the existing 210,000 tonnes.

The announcement was made by Alcasa president Dixon Rosillon, the state industrial holding Corporacion Venezolana de Guayana (CVG), which operates the smelter, said in a statement sent to Reuters.