MOSCOW, October 24. /TASS/. Rusal has reached an agreement on purchase of 30% equity interest in the Chinese company HWNM, which owns an alumina refinery in the province of Hebei, Caofeidian district, the Russian company reported.

The transaction amounted to 1.911 bln yuan (equivalent to approximately $267 mln), "which may be adjusted depending on the HWNM’s working capital and debt as of closing <…> but is expected not to exceed 2.5 bln yuan," Rusal said.

HWNM owns and operates the newest and high innovation alumina refinery in China that has a nameplate annual capacity of 4.8 mln tons of metallurgical grade calcined alumina. In accordance with the agreement the two companies will divide the alumina produced in proportion to their respective equity interests.

Rusal is the largest aluminum producer outside of China and the only primary aluminum producer in Russia. En+ Group founded by Oleg Deripaska is the largest shareholder of Rusal with a share of 56.88%. SUAL Partners holds 25.52% of shares.