The largest global aluminum producer Rusal wants to supply all the produced metal to Russia in the long run, Sales Director for Russia and CIS Roman Andryushin said on Thursday.
Rusal expects aluminum consumption will grow from 1.4 mln tonnes per year at present to 2.5 mln tonnes by 2024, the manager said.
Investments worth nearly $800 mln will be required at the initial stage by 2021.
"Financial resources are needed to launch this program. We made an estimate; the first phase will cost about $800 mln. We mean lending resources. These resources are need for infrastructure and production capacities of our consumers. In other words, there are no Rusal’s investments because we are working and growing at the expense of in-house resources," Andryushin said.
"1,500 companies consuming our metal require investments. $800 mln are needed for 50-100 new production facilities to add 600,000 tonnes of aluminum. Financing problem should be resolved through government programs of the Russian Ministry of Trade. We are proactively working with the ministry on this issue," he said.
Rusal is supporting aluminum consumers - processing industries and end using industries at present, Andryushin added.
First published by TASS.
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