MOSCOW, September 23. /TASS/. Rusal may participate in the reconstruction and upgrade of an aluminum smelter in Egypt, the company’s press service told TASS.
"Rusal continues negotiations with the Egyptian side, including representatives of the Egyptian government, on cooperation with the aluminum company EgyptAlum. This public company owns an aluminum smelter with a nominal capacity of 310,000 tons of aluminum, with a controlling stake held by a state-owned holding company. The application of our technical expertise and best practices, as well as the exchange of technologies and experience, will enhance the production potential of the Egyptian smelter," the press service said.
"One of the key areas could be assistance in the project to reconstruct and modernize EgyptAlum's existing facilities," said Alexey Arnautov, Rusal's Deputy CEO for New Projects, as reported by the company's press service.
Earlier, Egyptian media reported on a meeting between Mohamed Shimi, Minister of Public Business Sector, and Rusal representatives. The parties discussed ways to expand cooperation in aluminum production, technology transfer, and the exchange of experience, as well as the investment potential of Egypt's industrial sector, according to Shorouk News.
Arnautov noted that Rusal is a recognized technological leader in the aluminum industry, and the Egyptian plant was built in the 1970s with technical assistance from the USSR.
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, while free float stands at 17.59%.