Russia's Boguchanskaya hydropower plant and Boguchansky Aluminum Smelter have concluded deals to take out two loans totaling 50 billion rubles from state-owned Vnesheconombank （VEB）, VEB said Wednesday.
The smelter and the power plant are part of the BEMO hydropower and aluminum project in the Krasnoyarsk Region, which is being jointly carried out by aluminum producer United Company RUSAL and hydropower producer RusHydro.
The loans include a 16-year 28.1 billion ruble loan for the hydropower plant and a 14-year U.S. dollar-denominated loan worth an equivalent of 21.9 billion rubles for the smelter's first stage, which is slated to be launched in 2013.
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