Putin's friend will build the largest US plant

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The Russian company Rusal, businessman Oleg Deripaska, will build a plant for the production of aluminum rolled products for the automotive industry in the US state of Kentucky.

The corresponding enterprise will be organized jointly with the American manufacturer of aluminum alloys Braidy Industries, according to the website of the Russian company.

By agreement of the parties, an oligarch close to Russian President Vladimir Putin will receive 40% of the project. In this case, the volume of investment in the message is not disclosed.

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The launch of the new plant in the United States is scheduled for 2020. The capacity of the enterprise will be 500 thousand tons of hot rolled strip and 300 thousand tons of finished products of cold rolled steel per year.

After signing the contract of intent, Rusal and Braidy Industries plan to raise funds in the financial markets.

The Russian company plans to supply aluminum for the new rolling plant in the United States from the Taishet aluminum plant, which is currently being built in Siberia.

Braidy representatives emphasize that they have not built such plants in the country for more than 30 years. The company will be the largest producer of rolled aluminum in the United States.

Vladimir Putin and Oleg Deripaska

Vladimir Putin and Oleg Deripaska

As careersatglatfelter.com reported, in January 2018, the US Treasury Department presented the Kremlin report to the US Congress, which included 210 names – 114 major Russian officials and heads of state-owned Russian companies, as well as 96 oligarchs.

In April, the United States added seven Russian businessmen and 17 high-ranking officials, as well as 14 companies to the sanctions list. In particular, Oleg Deripaska, Vladimir Bogdanov, Suleiman Kerimov, Igor Rotenberg, Andrey Skoch, Kirill Shamalov, Victor Vekselberg and others fell under the sanctions.

The United States Department of the Treasury notified Congress of its intention to end sanctions against Russian companies En +, Rusal, and Eurosibenergo, which Deripaska was president of, as they underwent substantial restructuring and changes in corporate governance.

On January 17, 2019, the US Treasury Department gave Deripaska companies a respite from the entry of US sanctions into force.

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