UC Rusal, the world’s largest smelter of primary aluminum, is considering possible projects in Kazakhstan, a spokeswoman confirmed.
A Rusal spokeswoman told Dow Jones Newswires the company “is considering the construction of an energo-metallurgical complex in Kazakhstan,” but was unable to be more specific.
One of Rusal’s minority shareholders is financier Len Blavatnik’s Access Industries, which operates a massive complex of coal fields in Ekibastuz in northern Kazakhstan.
The newspaper Kommersant had reported that the company is ready to spend $2.5 billion on a smelter with nearby power generation in Kazakhstan, in addition to its alreadyburgeoning investment commitments.
At the weekend, the company, which is Russia’s largest private-sector consumer of electricity, signed a memorandum of understanding with nuclear engineering group Atomstroiexport to build what would be the first nuclear power plant in Russia’s Far East, the main customer of which would be a new Rusal smelter.
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