RUSAL to provide 2.5 bln Chinese yuan loan to Taishet smelter

MOSCOW, Nov 22 (PRIME) -- Russian aluminum giant UC RUSAL plans to issue a 2.5 billion Chinese yuan loan to its subsidiary Taishet aluminum smelter, RUSAL said in a statement on Tuesday.

The loan should be redeemed no later than in March 2025.

In October, RUSAL expanded the smelter’s shareholder equity by 30% to 73.94 billion rubles.

RUSAL launched construction of the smelter in 2006, but had to suspend it in 2009.

In 2016, the aluminum producer suggested that hydropower giant RusHydro become a co-investor of the project, but the companies failed to find common ground over investment.

RUSAL launched the Taishet aluminum smelter’s first stage with a capacity of 428,500 tonnes per year in December 2021.

(60.7379 rubles – U.S. $1)

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