Russian aluminium producer Rusal intends to double the capacity of its Boguchansky aluminium smelter in Siberia to 600,000 metric tons by 2030. This announcement was made by the local government in the Krasnoyarsk region.
Rusal, the largest aluminium producer outside of China, launched the first production line at Boguchansky in 2019 with an investment of $1.6 billion. The total cost for reaching full capacity was initially projected at $2.6 billion. The plant is co-owned with the state-controlled power company Rushydro.
Construction at the Boguchansky smelter is set to begin in 2025, with Rusal’s vice president, Elena Bezdenezhnykh, confirming the plans. The company will reassess its financial model and investment amounts by the end of 2024.
Rusal currently holds a 5.5% share of global aluminium production and operates 11 smelters with a combined capacity of 4.6 million tons. The company also anticipates a global aluminium surplus of approximately 500,000 metric tons in 2024 and between 200,000 and 300,000 tons in 2025.