BEMO smelter inspected
Senior management of RUSAL, Vnesheconombank (VEB) and RusHydro visited Tayozhny in Eastern Siberia this Thursday, June 6, to inspect the construction works of the Boguchansky aluminium smelter (BEMO smelter). The readiness of the first starting complex is 75%.Representing RUSAL in the delegation were CEO Oleg Deripaska, Chairman Matthias Warnig, and First Deputy CEO Vladislav Soloviev. During the visit, the delegation first went to the BEMO HPP which has been put into operation last year, then moved to the construction site of the BEMO smelter, and then also paid a visit to the construction site of the Taishet aluminum smelter.
Members of the delegation noted the high level of readiness of the BEMO smelter where the first metal is to be produced in the fourth quarter of this year. As of May 1, 2013, investors – RUSAL and RusHydro – had already invested USD862 million in the BEMO smelter construction using their own and borrowed funds, with VEB being the main lender. The volume of investment required to complete the construction of the first phase of the BEMO smelter with a capacity of 298 ktpa is USD749 million. The first phase of the smelter will be put into operation by the end of 2014.
"We have seen that the construction work is in full swing, meeting the deadlines. At the end of this year this modern state-of-the-art aluminium smelter will produce its first metal. The launch of this smelter is another step in the implementation of RUSAL’s program to replace outdated production facilities with eco-friendly and cost-efficient new capacity,” said Oleg Deripaska, CEO of RUSAL. “This is the second smelter in Russia, which is built entirely on using the technologies developed by our company. The first one, Khakas Smelter, works well for seven years and is one of the most efficient facilities in the industry worldwide.”