Big Wins in the U.S.A.

Russia’s Rusal makes $200 million Kentucky aluminum investment

aluminum investment

Rusal is seeking to pour $200 million in Kentucky-based Braidy Industries, the Russian aluminum giant’s first investment in the country since resolving a sanctions dispute with the Trump administration.

Under the terms of the 10-year agreement with controlling company En+ Group, Rusal will be Braidy’s sole-source provider of low-carbon aluminum for its new $1.6 billion rolling mill slated to open in 2020 in northeast Kentucky, the firms said on Sunday. The investment will give Rusal a 40 percent share in the facility and En+ Group Executive Chairman Lord Gregory Barker will serve as co-chairman of the new mill alongside Braidy CEO Craig Bouchard.

Newsletter sign up

The aluminum industry is racing to lower the amount of carbon emitted in the production process. Alongside Rusal’s efforts, Pittsburgh-based Alcoa Corp., Apple Inc. and Rio Tinto Group are developing a process that would rid carbon from the smelting process, replacing it with oxygen emissions. For Braidy, Rusal was the only supplier that could provide the necessary 200,000 tons of low-carbon slab a year, according to Bouchard.

When you combine low-cost, highest-quality [and] lowest carbon imprint, that turns into a competitive advantage. There is no other company that will be able to do what we are doing,

he told FOX Business.

Read More

Are you enjoying the article? Join our community for even more!


Click Here

Related posts

Aramco taps into U.S. shale gas boom with Sempra LNG deal

Camila Coutinho

Infosys Plans Open Technology And Innovation Hub In Texas


Enmax makes first acquisition outside of Canada with purchase of American utility company

Camila Coutinho

Leave a Comment