POWER OF ATTORNEY



 KNOW ALL PERSONS BY THESE PRESENTS that the undersigned hereby names, 

constitutes and appoints the Secretary and each Assistant Secretary of ALCOA INC., a Pennsylvania 

corporation (the "Company"), or any of them, the undersigned's true and lawful attorney-in-fact and 

agent to:



       (1)  prepare, sign for and on behalf of the undersigned, and submit to the U.S. Securities and 

Exchange Commission (the "SEC"), a Form ID, including amendments thereto, and any other documents 

necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic 

filings with the SEC of reports required by Section 16(a) of the Securities Exchange Act of 1934 or any 

rule or regulation of the SEC;

       

       (2) prepare, and sign for and on behalf of the undersigned, as to any equity securities of the 

Company, Forms 3, 4 and/or 5, including amendments thereto, in accordance with Section 16(a) of the 

Securities Exchange Act of 1934 and the rules thereunder;

       

       (3) timely file any such Forms 3, 4 and/or 5, including amendments thereto, with the SEC and 

any stock exchange or similar authority and deliver a copy thereof to the Company in care of the 

Secretary; and

       

       (4) take any other action in connection with the foregoing which, in the opinion of such 

attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned.

       

        The undersigned hereby grants to each of such attorneys-in-fact full power and authority to do and 

perform any and every act and thing whatsoever requisite, necessary or proper to be done in the exercise of 

any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or 

could do if personally present, hereby ratifying and confirming all that such attorneys-in-fact shall lawfully 

do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted.  The 

undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of 

the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's responsibilities 

to comply with Section 16 of the Securities Exchange Act of 1934.



       This Power of Attorney shall remain in full force and effect until the undersigned is no longer 

required to file Forms 3, 4 and 5 with respect to the undersigned's holdings of and transactions in equity 

securities of the Company, unless earlier revoked by the undersigned in a signed writing delivered to the 

foregoing attorneys-in-fact.  This Power of Attorney shall be governed by and construed in accordance 

with the laws of the Commonwealth of Pennsylvania.  The execution of this Power of Attorney is not 

intended to, and does not, revoke any prior powers of attorney.

       

 IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed 

on the date set opposite the signature below.





 /s/ Kurt Waldo      1-12-12   

  Signature          Date



          Kurt Waldo   

  Print Name