Rusal to modernize Bogoslovk Aluminum Works
The region will help Rusal secure low-cost electricity supplies for BAZ to keep the smelter profitable. Energy saving technology will cost approximately $430,000 and will be introduced over the next four or five years, according to COSPP.
Rusal began switching off inefficient electrolytic baths at BAZ last fall and in December the government intervened to introduce measures to stabilize the loss-making enterprise. One such measure is for Rusal to buy the Bogoslovsk CHP plant from IES Holding and build the new Novobogoslovsk CHP plant in keeping with a capacity supply contract. Rusal will also have to modernize the 68-year-old smelter by 2016, so that it is able to match the production levels seen in 2011 while maintaining energy efficiency.
In May, IES Holding said that it was ending talks with Rusal on the sale of the existing CHP plant and the capacity project for the new plant because the two could not agree on a price, COSPP reports.
Rusal does not have plans to close the Bogoslovsk smelter and is looking for ways to solve its problems. The company said at the end of last year that BAZ aimed to boost alloy production 33 percent in 2012 to 25,000 tons.
BAZ, based in the city of Krasnoturinsk, is the biggest local employer, with a staff of 2,140, COSPP reports.
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