10 June 2004 05:23
EBRD approves $75 mln loan for SUAL
MOSCOW. June 10 (Interfax) - The European Bank for Reconstruction and Development board has approved allocation of a
$75 million loan for Siberian-Urals Aluminum Company (SUAL) for the development of the ZAO Komi Aluminum bauxite
deposit.
The EBRD office in Moscow told Interfax that the funds would include a $30 million syndicated loan.
The total cost of the first phase of the project is estimated at $300 million, with the EBRD allocating $150
million.
The Komi Aluminum project envisages the construction and launch of a alumina and aluminum complex that will annually
produce 6 million tonnes of bauxite, 1.4 million tonnes of alumina and 300,000 to 500,000 tonnes of primary aluminum.
Construction is set to begin in the first quarter of 2005 and end in December 2007. [RU ASIA EUROPE EEU EMRG LOA BNK WEU
MET ALU CORA RESF] me
[Interfax] |
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