Alcoa Corp. unveiled its plan to invest $60 million in its aluminum smelter located in Massena, New York. The Massena smelter is the longest-running smelter in the world, continuously producing aluminum since 1902.

The $60 million investment will be allocated through 2028 to rebuild the smelter's anode baking furnace, which supplies anodes for the smelting process.

Currently, the company has signed a new ten-year contract with the New York Power Authority (NYPA). Under the contract, Massena Operations will receive 240 megawatts of renewable energy, valid until April 1, 2036, with options to extend for two additional five-year terms.