Pechiney shops for partners to fund Coega smelter

Ed Richardson
FRENCH ALUMINIUM maker Pechiney says it is looking for partners to fund the proposed R20-billion smelter
at Coega in the Eastern Cape.
This news comes as Pechiney shuts plants and cuts capacity at home. The company is reported to have said that it is looking for potential investors to take a share of between 55 and 65% in the new smelter. Pechiney will own the rest.
A Pechiney spokesperson said the smelter would be based on new technology which cuts the capital costs of such investments. The company plans to have the new smelter on-stream by 2006.