The Azerbaijani Industry for Economic Development and Russian company Russkiy Aluminiy have set up talks construction of a plant on construction of aluminum in Azerbaijan, Heydar Babayev, the Azerbaijani Minister for Economic Development, told journalists on Tuesday, Trend reports.
The talks are carried out on all issues linked with the project, including the place of the plant, energy sources and presence of local railways.
The minister noted the importance of defining the cost of bauxites -raw material for production, as well as sources for purchase, impact of the prices of raw material on the prices of final product.
Earlier RusAl told Trend that the company was involved in the development of feasibility study of the project on the establishment of a new aluminum plant in Azerbaijan with the capacity of 300,000 tons a year. It is panned to establish production on the base of enterprises of Azeraluminiy.
The total amount of investments to commission the plant, expansion of infrastructure and construction of power stations will exceed $1bn. The raw material will be supplied from Guinea due to insufficiency in the local market.
The Russian companys plans include the establishment of new advanced aluminum and alumina plants, power stations, as well as high-technology enterprises on oil cokes production, construction units and aluminum foils.