Russia’s RUSAL to sell Jamaica’s plant to JISCO for $299 mln

MOSCOW, Jul 19 (PRIME) -- Russian aluminum giant UC RUSAL has signed an agreement to sell 100% in Jamaican bauxite-alumina plant Alpart to Chinese state industrial group Jiuquan Iron & Steel Group Co. Ltd. (JISCO) for U.S. $299 million, RUSAL said in a statement Tuesday.

The deal, which was approved by RUSAL’s board of directors, is done as part of optimization of the company’s assets and to cut its debt burden.

The deal should be further approved by the Jamaican government and the Chinese government.

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