Rusal secures more than $600 mln to construct TaAZ aluminium smelter

UC Rusal has signed and started the drawdown of a loan worth 45 billion roubles ($603 million) from VTB and Gazprombank to fund the capital expenditure of its Taishet aluminium smelter (TaAZ), it said on Monday March 1.

Under the terms of the syndicated loan agreement, VTB will provide 30 billion roubles and Gazprombank will provide 15 billion roubles over a period of up to 15 years.
The funds raised will be used to finance the completion of the start-up phase of the TaAZ smelter and partial refinancing of investments made in 2020, Rusal said.

Slated to start operations in 2021, TaAZ will have a production capacity of 428,500 tonnes...

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