As a reminder of UC RUSAL's strong portfolio of smelter projects, the company announced the signing of a finance agreement on what it is ambitiously called the "Complex Development of Lower Angara Region Project". In metal market terms this is the integrated Boguchansk energy and smelter project, which will have a power capacity of 3,000MW and an aluminium capacity of 600,000tpy.
The signatories to the agreement are the company itself, its energy partner, HydroOGK, its finance partner Vnesheconombank and state entities in the road, rail and energy sectors.
Total costs for the project are estimated at $6.88 billion. The Russia Investment Fund will contribute $1.3 billion with the money to go towards creating the necessary infrastructure for the project.
Elsewhere in Russia, UC RUSAL is working on the Taishet smelter project, a bauxite and alumina complex in Komi and earlier this week it announced a cooperation pact with Russia's state nuclear entity to study an integrated power-metal project in the country's Far East.
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