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Rusal negotiates buying up to 50% in alumina refinery in India

The capacity of the refinery is 1.5 mln metric tons per year

MOSCOW, March 14. /TASS/. Rusal has negotiated acquisition of up to 50% in Pioneer Aluminium Industries Limited, the management company of the alumina refinery in India, with the Pioneer and KCap group of companies, the Russian aluminum major said.

The capacity of the refinery is 1.5 mln metric tons per year.

Rusal will implement the transaction in three stages. It will acquire 26% in the company for $243.75 mln plus contractual adjustments at the first stage, and subsequent purchases of shares will be paid on a pro-rate basis.

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