UC Rusal to increase investments in Jamaica

Russian aluminum company UC Rusal and the Jamaican Government have agreed to resume the work of local bauxite and alumina complex Alpart. They talk about an increase of bauxite mining at Alpart (this ore is the main source for the production of alumina and subsequently aluminum) from January 2015 and the resumption of alumina production by December 1, 2016. In addition, the parties agreed to modernize a seaport (starting this month), repair of corresponding roads and construction of a gas turbine cogeneration plant with capacity of 140 MW by UC Rusal – these projects will be implemented in the next year. The total investment could reach about $400 million, Minister of Science, Technology, Energy and Mining Industry Philip Powell announced at the press conference in Kingston Jamaican.

UC Rusal entered the capital of Alpart in 2004, by 2011 it increased its stake to 100%, spent more than $300 million; because of falling prices for bauxite the plant’s activity was suspended in 2009. In addition to Alpart, UC Rusal has one more enterprise in Jamaica - Windalco (with two plants - Ewarton and Kirkvine Works), 100% of the shares of which the Russian company consolidated in December 2014. Windalco produces, in particular, the sixth of UC Rusal’s bauxite: thus, over the past year UC Rusal produced 12.1 million tons of bauxite and 7.25 million tons of alumina, and Windalco – 1.903 million tons of bauxite and 559 thousand tons alumina of them.