Business
Alcoa’s struggling Portland smelter secures lifeline with power deal, $160m in subsidies – Sydney Morning Herald
The future of Victoria’s Portland aluminium smelter and the jobs of hundreds of its staff appear safer after Alcoa secured a power deal and further subsidies.
Under the Morrison governments $76 million support package, the smelter will be paid to power down at times of soaring statewide electricity demand, such as sweltering periods in summer when millions of households switch on their air-conditioners all at once, placing strain on the grid.
The Victorian government has agreed to match the federal governments financial contribution, Alcoa said.
Victorian Treasurer Tim Pallas said the states funding package built on the significant support provided to…
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