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Russian Aluminum

January 13, 2003

SBERBANK OF RUSSIA TO GRANT LOAN TO RUSAL

RUSAL and Sberbank signed a contract on December 27, 2002 for a long-term investment goal, the total credit of which will amount to US $70 million over a period of five years. This loan is based on an agreement of cooperation between the two companies first initiated in 2000. 

Sberbank has extended the loan to RUSALís subsidiary, ROSTAR, to finance the development of a new can manufacturing plant in Vsevolozhsk (Leningradsky region) with the intention of increasing RUSALís production volume and profits.

ROSTAR began operation in 1998 and has since become the leading Russian producer of aluminium beverage cans. Its capacity will likely near 1.7 billion half-liter cans and 1.5 billion can lids per year using equipment in cooperation with US and German manufacturers.

ROSTAR plans to continue operation into the summer of 2003 and will look to existing Russian plants to supplement its production volumes in order to meet market demands. ROSTAR and Sberbank are both committed to supporting Russiaís economic growth. In addition, RUSAL continues to upgrade its smelters and facilities in Sayanogorsk, Bratsk and Krasnoyarsk, as well as finance investment opportunities with long-term loans provided by Sberbank. 

Sberbankís most recent loan to ROSTAR is evidence of the continued amicable relationship between the two companies and their commitment to developing Russiaís economy.

 

 

Sberbank of Russia

Russian Aluminium

https://www.sbrf.ru

https://www.rusal.ru

 

 

 

 

 

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