Russian aluminum producer Rusal plans to double the capacity of its Boguchansky aluminum smelter located in Krasnoyarsk, Siberia, aiming to increase total production to 600,000 tons by 2030.
The first production line at the Boguchansky smelter was launched in 2019 with an investment of $1.6 billion (153.72 billion rubles). The initial estimate for the total project cost to reach full capacity was $2.6 billion.
Considered the largest aluminum producer outside China, Rusal jointly operates the smelter with RusHydro, a state-controlled energy company. According to a statement from the local government, Rusal Vice President Elena Bezdeneshnykh mentioned that construction work at the Boguchansky smelter is scheduled to begin in 2025.
A Rusal spokesperson confirmed these plans, noting that the financial model and investment amounts will be reassessed by the end of 2024. Rusal holds a 5.5% share of global aluminum production and operates 11 aluminum smelters with a total capacity of 4.6 million tons.
Additionally, the company has yet to finalize its expansion plans for the Taishet aluminum smelter, which began operations in 2021 with a capacity of approximately 430,000 tons. Looking ahead, Rusal expects the global aluminum surplus to be around 500,000 tons in 2024, which is projected to decrease to 200,000–300,000 tons in 2025.
Last year, Rusal announced plans to build an alumina plant with an investment of 400 billion rubles to reduce raw material imports. The proposed project includes four alumina production lines and port infrastructure at the Russian port of Ust-Luga on the Baltic Sea.
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