Vneshekonombank agreed to lend 50 billion rubles ($1.7 billion) to United Company RusAl and RusHydro to complete the construction of a hydropower plant and aluminum smelter in Boguchansk.
A 28.1 billion-ruble loan for the power plant will be granted for 16 years, while a 21.9 billion ruble loan for the smelter will be for 14 years, RusAl said Thursday.
“The assets and shares of the project companies will be pledged as loan security,” it said.
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