Russia’s Norilsk Nickel to invest 10-15 bln rbl in Kola GMK until ‘18

KRASNOYARSK, Mar 2 (PRIME) -- Russian metals giant Norilsk Nickel will invest 10-15 billion rubles in its mining unit Kola GMK until 2018, COO Sergei Dyachenko told reporters Monday.

“Investments in the Kola plant will stand at 10-15 billion rubles until 2018,” he said.

The company is preparing amendments to its request for target financing for its future Bystrinsky ore mining and processing plant to state-owned Vnesheconombank, Dyachenko said.

The investments will be below U.S. $1 billion, the company’s earlier estimate, he said. Norilsk Nickel is considering selling a stake in the project to Chinese companies to raise investments, he said.

Dyachenko separately said that Norilsk Nickel will keep the nickel supplies to China at 100,000 tonnes annually in 2015.

(61.2718 rubles – U.S. $1)

End