TITLE

Rusal may cut output at eastern smelters, eyes hydropower acquisition in European Russia

AUTHOR(S)
Interfax
PUB. DATE
June 2013
SOURCE
Russia & CIS Energy Newswire;6/24/2013, p1
SOURCE TYPE
Newswire
DOC. TYPE
Article
ABSTRACT
ST. PETERSBURG. June 24 (Interfax) - Rusal's program to cut back production at its aluminum smelters may affect the aluminum giant's East division, where lower electricity costs make for more efficient facilities than those in the European portion of Russia. Rusal solved the problem of high electricity prices for the Bogoslovsk Aluminum Smelter by buying the Bogoslovsk Combined Heat and Power Plant. It is now looking at doing the same thing for the Nadvoitsy and Volgograd smelters, by purchasing the nearby Ondskaya and Volgograd hydropower plants respectively. Meanwhile, low aluminum prices have brought a halt to construction of the Taishet smelter and suspension of other projects that will not break even within one year. The company continues to lower its forecast for the aluminum price at year-end, even as it sees steady increases in the premium for deliveries of the metal and continues hoping for a decision by China to cut back investment in new capacity.
ACCESSION #
88386073

 

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