Deal to secure Alcoa's Portland smelter's future in sight

A $200 million deal to secure the future of Alcoa's Portland smelter could be signed within a week after a marathon 12-hour meeting led to an agreement in principle between the parties involved.

The future of the aluminium smelter, in Victoria's west, has been uncertain following the end of a generous power subsidy contract with the Victorian government and stalled negotiations with power supplier AGL.