ST.PETERSBURG, Jun 7 (PRIME) -- Russian aluminum producer RUSAL plans to sell about 3.8 million tonnes of aluminum in 2021 after 3.926 million tonnes in 2020, CEO Yevgeny Nikitin told PRIME in an interview released on Monday.
"Excluding the expected launch of the Taishet plant, we stick to the old figures of 3.8 million tonnes. There will be no such sales increase like when we sold stocks, there are none now. It is balanced now and the volume of sales coincides with production. Metals will be redistributed by markets, we always do this," Nikitin said.
RUSAL plans to find the financial sources for upgrade until the end of 2021, he said. "I think that we must understand what guarantees the government promised us and what amount and terms of the loans banks will provide this year," Nikitin said.
Industry and Trade Minister Denis Manturov pledged 385 billion rubles in investment in the Russian aluminum plants until 2027.
Nikitin also said that Siberian-Urals Aluminum Company (SUAL), which holds a blocking stake in RUSAL, supports the idea of splitting the company but has some questions. "All shareholders, not only SUAL, have questions. We therefore answer them: why it is beneficial, why this way is chosen. The process continues and I hope that we will solve all issues so that the shareholders are content with the split," he said.
(73.2721 – U.S. $1)
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