Hydro has pushed back the timing of the refinery several times. We assume start up around 2017. Dubal is one of the major shorts in the alumina market. The Vale transaction in 2011 made Hydro one of the major longs in the alumina market. Wood Mackenzie’s asset reports are built from the bottom up, incorporating a number of granular data metrics to ultimately produce our industry standard cash operating costs. This report contains a detailed asset note giving you a holistic view of the asset, including an operational overview through to a timeline of events from inception to now. This qualitative analysis is supplemented by the associated Excel download which enables interrogation of a whole series of cost and production metrics over the life of the asset.