OREANDA-NEWS. Russian company Rusal, businessman Oleg Deripaska, with whom the US Treasury withdrew sanctions in January, will build a plant for the production of aluminum for the automotive industry in the US state of Kentucky, Its cost is estimated at $ 1.7 billion. This is reported in the press release of the company. The company will be organized jointly with the American manufacturer of aluminum alloys Braidy Industries. Rusal will receive 40 percent of the company.

UC Rusal, with which the US Treasury Department lifted sanctions in January, agreed with the American aluminum alloy producer Braidy Industries to jointly build a plant for the production of aluminum rolled products for the automotive industry. This is stated in the message of the Russian company, distributed on the Hong Kong Stock Exchange on Monday. 

The launch of the new plant in the US is scheduled for 2020. The capacity of the enterprise will be 500 thousand tons of hot rolled strip and 300 thousand tons of finished products of cold rolled steel per year. Aluminum will be supplied to the plant by the Taishet aluminum plant, which Rusal is currently building in Siberia. The Wall Street Journal notes that such enterprises in America have not been built for more than 30 years. The plant will become the largest company producing aluminum in the United States during this period.

At the end of January 2019, the US Treasury Department lifted sanctions from Rusal, En + and Euro Deribaska’s Eurosibenergo. All restrictive measures against Deripaska himself remained in force. Among the conditions for restoring Rusal’s rights were the resignation of Matthias Waring, Chairman of the Board of Directors, and Deripaska’s denial of the possibility to appoint members of the Board of Directors.

In addition, as they say the American media, the new plant will help to employ people who lose their jobs due to the closure of the nearby steel plant AK Steel.