Norsk Hydro to invest $ 514 million in pilot aluminium plant

OSLO: Norsk Hydro, one of the world's largest aluminium producers, will invest 3.9 billion Norwegian crowns ($514.5 mln) in a pilot plant in Norway, the company said on Wednesday.

The plant is for full-scale industrial testing of its so-called HAL4e technology and is expected to have an annual production capacity of 75,000 tonnes and to cost around 3.9 billion Norwegian crowns ($514.51 mln), it said in a statement on Wednesday.

The project is supported by a contribution of 1.5 billion crowns from Enova, a Norwegian public enterprise which supports new energy and climate related technology.