Interfax reported that UC Rusal, the world largest aluminum producer, will invest USD 6 million in the modernization of foil producer Rusal Armenal in 2012-2014.
The money will be invested in order to increase the plant production to 33,600 tonnes of aluminum foil per year. The plant produced 25,313 tonnes of foil in 2011, 2.7% more than in 2010. Exports edged up 0.9% by volume to 25,041 tonnes, but rose 10.8% in value to USD 86.984 million.
Armenal said overall investment in the modernization and development of the plant exceeded USD 120 million in 2000-2011. Over this period, the plant produced more than 130,000 tonnes of product, almost all of which was exported to the United States, Europe and the Middle East. The US accounts for 80% of foil exports.
Armenal set up on the basis of the Kanaker Aluminum Plant and is the only producer of aluminum foil in the Caucasus and Central Asia. Rusal acquired the plant in 2000 and it is part of the Russian company packaging division along with Sayanal, Ural Foil and Sayansk Foil.
豫公网安备41010502003434号