Russian Aluminum JSC (RusAl) started preparation of the feasibility study of the project on construction of 300,000 tons aluminum plant in Azerbaijan, the press service of RusAl told Trend.
Final decision on the location of the plant and amount of investments will be made as a result of estimation, the Company said.
The representative of the press service said that they did not consider possibility of establishment of production on the base of Azeraluminium.
According to Abbas Abbasov, the Azerbaijani first Vice-Primer, the total amount of investments for ensuring the operation of the plant, expansion of infrastructure and construction of power station will exceed $1bn. Raw materials will be delivered from Guinea due to lack of raw materials in the country.
The plans of the Russian Company include establishment of new modern aluminum and aluminous plants, power stations, as well as high-tech and enterprises for production of oil coke, construction elements and packing foil.