Azerbaijan and RusAl Initially Defined Several Commercial Questions within Construction of New Aluminum Plant

Business Materials 15 December 2006 14:46 (UTC +04:00)

The Economic Development Minister of Azerbaijan Heydar Babayev said that Azerbaijan Government informed Russian Aluminum JSC on the opportunities of maintaining unchanged the prices of the electric power for certain period within the project of constructing aluminum production plant in Azerbaijan, Trend reports. Our position is that in exchange of the privileges requested by the Company, we can agree only with this proposal, the Minister said

In the last response to RusAl, the Economic Development Ministry confirmed the previous position that the investments brings harm to the government and budget of the country are not in the interests of the country. The proposal of RusAl to decrease the prices of the electric power by two times was not accepted.

The design capacity of the new aluminum plant in Azerbaijan will equal 300,000 tons annually. The gross amount of the investments for ensuring the activity of the plant, expanding the infrastructure and constructing electric power stations will exceed $1 bln.