Aluminium de Grece (AdG) announced today that its co-generation project that would supply the plant with enough energy to operate for years to come is progressing well. The proposed new co-generation station would produce 100 percent of the company's energy needs, thus ensuring long-term financial viability for all stakeholders.

The station would come online when a reliable gas supply infrastructure is in place as foreseen in the preliminary agreement with D.EP.A. In addition, the proposed initiative is subject to regulatory and government approvals. In this respect, Aluminium de Gr?ce has the support of the Ministry of Development and of the responsible Authorities of Operational Program Competitiveness.

The proposal is a direct result of an in-depth review launched in January 2004 to determine the best alternatives for supplying power to the plant since the current Power Contract between AdG and Public Power Corporation (PPC) will expire on March 31, 2006.