UC RUSAL to Sold Pikalyovo Alumina Refinery to BaselCement

Russian aluminium giant UC RUSAL said it has signed an agreement with BaselCement to sell its Pikalyovo Alumina Refinery. “We conducted a technical audit last year with a conclution that the plant should be converted into other core products. After having analyzed all the possibilities, we decided to sell the assets to BaselCement, which will convert it into cement production centre. ” BaselCement is projecting to invest $83 million in restructuring the refinery to convert it into a 1.8 million tpy cement producer. Construction work will start next week and first production is expected by the autumn this year with completion at the middle of next year. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.