Hydro investing strongly in Norway
July 19, 2005, 12:00 CEST
The new casting centre at Hydros aluminium plant in Sunndal is just one in a series of major investment projects that Hydro has carried out in Norway in recent years. Here are some examples:
- In 2001 Hydro decided to modernize and expand the aluminium works in Sunndal. Europe’s largest aluminium works was completed in 2004 and cost approximately NOK 6 billion. This expansion forms the backdrop for the latest decision to invest in a new cast house for aluminium alloys in Sunndalsøra, at a cost of NOK 240 million.
- In December 2004 Hydro celebrated the completion of the upgraded hydropower facility New Tyin, which powers the aluminium works in Årdal. Hydro invested NOK 1.3 billion in this project.
- The upgrade of the carbon plant in Årdal was completed in the spring of 2004. An investment of NOK 570 million increased Årdal Carbon’s annual capacity of pre-baked anodes by 80,000 tonnes.
- Hydro is investing nearly NOK 190 million to resolve environmental problems at Årdalstangen. The modernization and upgrade of the unloading facilities and transport systems will reduce the dust problems associated with the handling of alumina and coke. The work will be completed early in 2007.
- The gas field Ormen Lange off the Møre coast represents the largest and most advanced deep water project in modern times. Total investments for field development and transport pipelines are estimated to be NOK 66 billion at 2003 prices. Hydro has an 18.07 percent stake in Ormen Lange and is operator for the development phase. The field is due to commence production in 2007 and will cover a fifth of the UK’s gas requirement through the world’s longest underwater pipeline, Langeled.
- The Hydro-operated Grane field in the North Sea commenced production in the autumn of 2003. Total investments were around NOK 15 billion. Hydro has a share of 38 percent of Grane.
- The new chlorine factory at Rafnes started operation in June of this year. The investment of around NOK 1 billion secures Hydro Polymers a substantially improved supply situation of raw materials for the production of PVC.