Hydro announced that it will sell its closed Kurri Kurri aluminium smelter to a joint venture of local property and residential land developers Stevens Group and McCloy Group.
Hydro's Kurri Kurri aluminium smelter started production in 1969 and went offline in 2012 due to the continued weak macroeconomic environment, low metal prices, uncertain market outlook and a strong Australian dollar relative to the U.S. dollar.
Hydro decided to permanently close Kurri Kurri in 2014. Since the closure, Hydro has been planning to demolish, remediate and redevelop the site in accordance with environmental and biodiversity requirements.
“Hydro and the Australian company Flow Systems Pty. Ltd. reached an agreement on a sale of the Kurri Kurri primary production site in July 2018. However, the agreement was terminated as the Flow Systems group of companies were unexpectedly put under voluntary administration towards the end of 2018,” Hydro said.
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