Alcoa Sees Up to $315 Million From Massena East Site Sale

Alcoa has agreed to sell portions of its Massena East site in New York for proceeds of up to $315 million, adding a first transaction to its asset-monetization effort through 2030. The company expects to receive $50 million to $65 million when the deal closes. That amount depends on approved data center capacity developed by the buyer. Alcoa expects the closing within six months. The transaction could bring approximately $60 million to $250 million more through approved capacity expansions and capacity-based installment payments as capacity is commissioned over a seven-year period. Alcoa expects most of those proceeds within the first five years. Closing remains subject to permits, regulatory approvals, conditions for construction to begin and other customary requirements.

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