Alpha HPA ticks the boxes on stage two

Alpha HPA is well on its way to delivering stage two of its HPA First project in Gladstone, Queensland.

The company has reached contractual close with the Northern Australia Infrastructure Facility (NAIF) and Export Finance Australia (EFA), and will now execute a syndicated facility agreement with the two.

Under the agreement, NAIF (through the state of Queensland) and EFA (under the Federal Government) will provide $400 million in debt funding to progress the project throughout stage two.

The HPA First project represents the commercialisation of high purity aluminium materials using Alpha HPA’s solvent extraction and HPA refining technology.

Final investment decision for the project was reached on May 20. Once completed, the project is set to be one of the world’s largest single site facilities of high purity aluminium materials.

“We are delighted to receive comprehensive financing support from the Queensland and Federal Governments and to have reached this important milestone,” Alpha managing director Rimas Kairaitis said.

“We are thankful for the efforts of the EFA and NAIF teams and look forward to completion of project construction and establishing the world’s largest, single site high purity aluminium materials facility.”

EFA managing director and chief executive officer John Hopkins said the finalisation is a landmark for the company.

“Today marks a key milestone with the contractual close of Alpha’s HPA First project,” he said. “We’re proud to support the delivery of Australia’s first high-purity alumina processing facility in Gladstone, Queensland, reinforcing our commitment to the sector.”

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