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| Monday, 12 April 2010, 10:50 HKT/SGT | |
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Source: RUSAL | |
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MOSCOW, Apr 12, 2010 - (ACN Newswire) - UC RUSAL plc (SEHK: 486, EuroNext: RUSAL/RUAL), the world's largest aluminium producer, announces its plans to restart operations of its Jamaican facilities. In June 2010 the company plans to bring back to operations alumina refinery Ewarton Works, part of Windalco, mothballed in 2009 due to cost reduction measures. The total capacity of the Ewarton plant is approximately 650,000 tonnes of alumina. In 2010, the production at the Ewarton plant is planned to be approximately 321,000 tonnes of alumina per year. The decision on restart is subject to the international lenders approval.
As part of RUSAL's Cost Efficiency Leader programme RUSAL has undertaken a number of measures to ensure that when the market conditions make the restart of Ewarton plant economically viable, the facilities will be able to restore the operations in more effective and competitive manner. The positive dynamics of the global aluminium market development and the agreements with the Jamaican Government and the contractors of the plant contributed to improving the economics of Ewarton's operations and enable RUSAL to make the decision on restart.
"We are pleased to restore the operations at Ewarton as the global economic situation improves. During the suspension period RUSAL has carefully studied the opportunities to optimise the facility's structure and production process, cut cash operating costs and improve the efficiency of Ewarton's operations. It should be noted that the restart has been made possible with a strong and constructive support of both the Jamaican government and contractors as the bauxite and alumina industry has the core economic and social role in the country. We strongly believe that the improving market conditions coupled with the favourable business environment in Jamaica will be instrumental in the development of renewed Ewarton", said Oleg Deripaska, CEO of RUSAL.
Contact:
RUSAL
Vera Kurochkina
+7 495 720 5170
Vera.Kurochkina@rusal.com
Investor Enquiries:
RUSAL
Catherine Shiang
+852 6391 6819
Catherine.Shiang@rusal.com
Topic: Construction of Facility
Source: RUSAL
Sectors: Metals & Mining
http://www.acnnewswire.com
From the Asia Corporate News Network
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