China Development Bank (CDB) has signed a deal with Russian state bank VEB to provide $1.43bn project financing for the first stage of UC RUSAL’s Taishet aluminium smelter.

In September, VEB’s National Council approved RUB40bn ($1.26bn) project financing for the Taishet aluminium smelter.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Construction of the Taishet smelter, located in the Irkutsk region, started in 2007 and was halted in 2008 due to the global economic and financial crisis.

The first stage of the smelter will have a capacity of 375,000t a year, with the total capacity equal to 750,000t, reports Reuters.

 

 

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Mining Technology Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Mining Technology Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now