Rusal gets funding from Russian banks for smelting project
Rusal, the Russian aluminium company, has arranged a 15 year syndicated loan from a consortium of local lenders. Funds will support the development of a smelting project in Siberia, which the company claims is environmentally friendly.
The Rb45bn ($608m-equivalent) financing will be available for up to 15 years. VTB is providing Rb30bn and Gazprombank Rb15bn.
Proceeds will be used to support the development of the Taishet aluminium smelter project in Siberia and will also contribute to the partial refinancing of investments made last year.The ...