Rusal to invest over 1.5 bln usd in Komi alumina project

Russian aluminium giant Rusal said it will spend over 1.5 bln usd to build a bauxite and alumina complex in the central Komi Republic.

The project involves the construction of an alumina refinery in the Sosnogorsk region with a capacity of 1.4 mln tonnes per annum, and the expansion of the output of the existing Eurasia Middle-Timan bauxite mine to 6.4 mln tpa from 2.6 mln, it said.

Construction of the refinery will start next month, while the complex is expected to be commissioned at the end of 2009.

The Eurasia Middle-Timan deposit has proven reserves of over 260 mln tonnes, the largest in Russia.

The complex, once operational, will raise Russia's alumina output by 40 pct, said Rusal, which currently supplies 12.5 pct and 16 pct of the global production of aluminium and alumina, respectively.