21 Feb '11
Aluminum giant Rusal intends to invest $700m in modernization of its assets in Siberia by 2015, the company’s head Oleg Deripasky told journalists.
Specifically, the company is building an aluminum plant, with projected annual capacity of 750,000 tons, in Tayshet, Irkutsk region, the firm said.
Under plans, the funds are also to be spent on the company’s power facilities development program to launch 4 GW of power.
Besides that, funding is to be used to finance the company’s project, carried out in partnership with national hydro power operator RusHydro, to build Boguchansk Energy-Metallurgic Complex (BEMO) in Irkutsk region.
The BEMO complex is to include the Boguchansk GES hydro power station and an aluminum plant, with power capacity of 600,000 tons of aluminum.