three green bullets

New projects

When planning new projects, we map environmental and social impact. Our analyses follow the Equator Principles.
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Thus it reflect the requirements of the World Bank and the International Finance Corporation regarding information, consultation and investigation of the project's environmental and social impact, including human rights, as well as an action plan and proposed initiatives. Dialog with affected groups gives input to plans detailing our environmental and social responsibilities. We strive to act in an open and credible manner, and gather views from interested parties, aiming for a common understanding of the decisions that are made.

Through the Vale transaction, Hydro's ownership share increased from 20 to 81 percent in a planned alumina refinery Companhia de Alumino do Pará (CAP) in Brazil. Before entering into the project, we initiated an independent review of the resettlement process. The review concluded that the resettlement had been conducted in compliance with the Equator Principles and the International Finance Corporation Performance Standards. There are currently legal disputes between some of the 120 relocated families and the local authorities about the authorities' share of the compensation.

Qatalum, where Hydro holds a 50 percent share, started production in the end of 2009 and is planned to be at full production in June 2011. The company aims to be a catalyst for growth in the manufacturing sector in Qatar. This includes the purchase of goods and services.

In January 2011, we announced a planned expansion from one to three lines at our precision tubing plant in Suzhou, China. One of the lines will be for precision tubes and the other will be for other extruded products, targeting customers mainly in the Chinese market. The plant has about 270 employees.

Oppdatert: 22. mars 2011
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