Rusal to restart Smelter construction

2017-05-25

Work on Taishet began in 2007 but Rusal decided to mothball the project at the end of 2013 when aluminium prices declined. So far the company has invested more than $700mn in the project and is looking for investors to help fund the remainder.

The approved financing for the first line of the Taishet smelter was announced after Rusal reported an increase in profit for the first quarter of 2017.

Rusal’s operating profit in the first quarter, which includes its share in Russian mining and smelting company Norilsk Nickel, increased to $434mn from $149mn a year earlier.