Alcoa Corporation signed definitive agreements to sell portions of its idle 1,600-acre Massena East aluminum smelter site in New York for data center development for up to US$315 million.
Subject to regulatory approvals and permitting, closing is expected within six months. Initial proceeds will range between US$50 million and US$65 million, with an additional US$60 million to US$250 million contingent on capacity development over seven years.
The site originally opened in 1958 and shuttered in 2014.