Thu 13/10/2022 – 08:43
Slatine, October 13, 2022– ALRO SA (BVB: ALR, “the Company” or “ALRO”), one of the largest vertically integrated aluminum producers in Europe, measured by production capacity, announces that the Company has been declared a “selected investor “following a public tender organized by Complexul Energetic Oltenia (CEO) to jointly build a natural gas power plant in Isalnita.
“This partnership will provide ALRO with the opportunity to diversify its business model, as security of electricity supply is imperative for the aluminum industry and will support the Group’s long-term development plans in a very challenging business environment. hard”, said Marian NĂSTASE, President, ALRO. “While this is a very complex undertaking, we are confident that we will succeed, having a strong partner, the CEO, who understands the new realities of the energy market and demonstrates that he knows how to adapt to it”, added Marian NASTASE.
Under the terms of the tender, the CEO and ALRO will negotiate the establishment of an SPV that will construct the 850 MW natural gas power plant, subject to approvals from both companies. This will replace two old coal-fired blocks of 315 MW each.
Marian-Daniel NASTASE Gheorghe DOBRA
Chairman of the Board of Directors Chief Executive Officer
For more information, please contact:
Telephone: +40 744 644 004
Email: [email protected]
Notes to Editor:
The companies of the ALRO group are: ALRO SA – aluminum manufacturer, ALUM SA – alumina producer, Sierra Mineral Holdings I, Ltd. – bauxite mining, Vimetco Extrusion SRL – extrusion business line, Conef SA – holding and management company, Global Aluminum Ltd. – holding company and Bauxite Marketing Ltd – marketing, Vimetco Trading – aluminum sales. With this structure, the Group has created an integrated production chain ensuring the raw materials for ALRO.
ALRO is a subsidiary of Vimetco PLC (Republic of Cyprus), a global vertically integrated primary and processed aluminum producer. The shareholder structure of ALRO is as follows: Vimetco PLC (54.19%), Paval Holding (23.21%), Fondul Proprietatea (10.21%) and others (12.38%).
ALRO is one of the largest vertically integrated aluminum producers, by capacity, in Europe, with an installed production capacity of 265,000 tonnes per year of electrolytic aluminium, 47,000 tonnes per year of recycled aluminum and the foundry has a total cast aluminum capacity of 332,000 tonnes per year and processing facilities of 140,000 tpa of hot and cold rolling mills and an extrusion shop.
The main market for ALRO products is represented by the European Union; the company also exports its products to the United States and Asia. ALRO is ISO 9001 certified for quality management and holds NADCAP and EN 9100 certificates for aerospace production organizations, ALRO products meet quality standards for primary aluminum on the LME, as well as international standards for flat rolled products.
From March 18, 2019, the Index Committee of the Bucharest Stock Exchange approved the inclusion of ALRO (code ALR) in BET, the main market index, and in BET-TR, the total return version of BET. ALRO shares have been listed on the Bucharest Stock Exchange since October 1997 and ALRO is the first company in the aluminum industry to be included in these two indices.
Since 2020, ALRO and Vimetco Extrusion have been members of the ASI (Aluminium Stewardship Initiative), an international association that contributes to improving sustainability in the global aluminum sector.