OSLO - According to a report of Thomson Financial, Norsk Hydro ASA, the Norwegian energy-to-aluminium group, said this morning that it is no longer looking at the possibility of working on a giant aluminium project in Greenland, appearing to confirm earlier reports that it has lost out to US rival Alcoa Inc on the estimated 3 bln usd deal.
'It was something we were looking at, and which we're no longer considering.' a spokesman for Hydro said, when asked about the project.
Actual reports are not enlightening the business, earlier this morning, Norwegian state broadcaster NRK reported that Hydro had lost out to Alcoa on the project, aimed at building a large aluminium smelter and related infrastructure in Greenland, and earlier this year Hydro had said it was working with Greenland's government to study the feasibility of the project.
However reports have since suggested that Alcoa has agreed to work with Greenland on the project.