Rushydro and Rusal have taken a pause in the construction of the Taishet Aluminum Plant because of the sanctions. Earlier the Rushydro CEO Nikolai Shulginov noted that the company deemed it necessary to review the initial conditions of participation in the project. Rusal began constructing the plant in Irkutsk region in 2006, but had to…
Rushydro has taken a pause in entering the Taishet Aluminum Project of Rusal. “There is a pause, not only on our behalf, but also on behalf of our colleagues, the banks. They have to settle the project financing based on their own vision of what’s going on”, Rushydro chairman Nikolay Shulginov said. “Taking all the…
RusHydro will support the project on the construction of Taishet Aluminum Works. All it is waiting for is the decision of Rusal. In early April RusHydro approved participation in the project. The company share was to be not more than $319.5 million. RusHydro will get 50% in the charter capital of the joint company RusAl…
The RusHydro board of directors has preliminary approved of the results of its participation in the construction of the Taishet Aluminum Smelter together with Rusal. RusHydro has estimated the cost of a 50% stake in the project at $388 million (22.5 billion rubles). Another aspect of the company participation in construction is Rusal confirmation of…
Russian hydropower giant RusHydro may pay only $88 million in cash in installments for a 50% stake in the Taishet Aluminum Smelter with the rest of the sum to be paid with 42.75% in Irkutsk Power Grid Company and future dividends from the plant. Construction of the smelter with a projected annual production capacity of…
RusHydro may decide to participate in completion of UC RUSAL’s construction of a $1.4-1.6 billion Taishet Aluminum Smelter within two or three months, Deputy Prime Minister Yury Trutnev, chairman of RusHydro’s board of directors, reported. “I think that probably within two or three months a decision will be made,” he said. RUSAL offered RusHydro a…