04.06.2021

RUSAL and the Kuzbass government sign cooperation agreement

Moscow, June 4, 2021 – RUSAL (SEHK: 486, Moscow Exchange: RUAL), a leading global aluminium producer, and the government of Kuzbass have signed an agreement for the completion of the construction of the Krapivinskaya hydroelectric power station at the Saint-Petersburg International Economic Forum (SPIEF). The document was signed by the Governor of Kuzbass, Sergey Tsivilev and RUSAL General Director, Evgenii Nikitin.

The construction of the Krapivinsky hydroelectric complex began in 1975 but was never completed. As per the agreement, RUSAL will ensure that; its representatives will participate in the project committee to complete the construction of the hydroelectric power plant, there is the necessary interaction with project organizations and experts involved, and will also consider the possibility of participating in the financing and completion of the project.

"The commissioning of such a significant facility in Kuzbass will not only improve the region’s water supply, but additional modern jobs will be created. In turn, this will give a new impetus to the development of nearby cities and towns, improve the standard of living and, as a result, have a positive impact on the diversification of the economy," said Sergey Tsivilev, Governor of Kuzbass.

Evgenii Nikitin, General Director of RUSAL said: "Kuzbass is a modern and dynamically developing region. The completion of the Krapivinskaya HPP will provide the industrial businesses in the Kemerovo region with clean energy, significantly improve the environmental situation, as well as the region’s water supply. It is expected that the average annual output of the plant will be more than 2 billion kWh."
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