Ormet restarts plant in Louisiana

American producer of primary aluminum Ormet announced the funding of the reactivation of the Burnside alumina plant in Louisiana. This is stated in the official statement of the holding. In particular, the company will invest approximately $ 50 million in preparation of the plant to operate and create over 240 jobs. The average annual wage at the plant will make 57 thousand dollars resume operation of an alumina refinery will help reduce the cost of aluminum production at the plant in Hannibal, Ohio. About half of the invested amount will be spent on capital construction, renovation and equipment upgrades. The company plans to start producing alumina in the fourth quarter of this year at a power plant 540 tons per year. The Government of the State of Louisiana strongly supports the project company and allocate it to 15.7 million dollars over ten years. Previously reported that Ormet has provided a revolving credit of $ 50 million and term loan of $ 110 million is anticipated that these funds use American concern for the refinancing of outstanding debt, improved pension policies, and ensuring liquidity of current activity. The American company Ormet is considered one of the largest manufacturers aplyuminiya in the U.S.. The company was founded in 1956. The staff of the holding company has 1,1 thousand people. Ministry of Industry