By the end of the year Rusal intends to have finished negotiations with the banks on loans to complete construction of Tayshet Aluminum Works.
“We’re negotiating with VEB on a rather advanced stage. But there is no word from Rushydro yet. As soon as they say anything, we will draw financing together”, Rusal strategy, business development and financial markets director Oleg Mukhamedshin said.
According to Rusal, the construction needs some $700 million. The construction will last for 2 years. In 2020 the works will be put into operation and will gradually reach the project capacity of the first stage at 430 thousand tons. (Ukrainian metal)
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