Alcoa (AA +0.2%) says it's reached an agreement to sell assets associated with its Rockdale, Texas, site to the Lower Colorado River Authority. Terms of the deal were not disclosed. The agreement includes approximately 34K acres of property, all surface and groundwater rights, certain common plant and equipment assets, and power contracts with Luminant. AA will retain ownership of its smelter and aluminum powder operations. The deal is expected to close early next year.