State development bank VEB signed a 50 billion ruble ($1.6 billion) loan agreement with United Company RusAl and RusHydro to fund construction of an aluminum smelter and hydropower plant in Boguchansk, Siberia.
VEB will lend 21.9 billion rubles for the smelter, which will have an annual capacity of 147,000 tons and a total cost of 33 billion rubles, according to a press release distributed by VEB. The bank will also lend 28.1 billion rubles for the 3,000-megawatt hydropower plant that will supply the smelter, the statement said.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
