14:19 GMT +324 September 2018
Listen Live
    An employee looks at an aluminium foil roll being lifted at a plant in Binzhou, Shandong province, China May 16, 2017.

    Ecuador Plans to Begin Construction of Aluminium Plant on Santiago River in 2024

    © REUTERS / Stringer
    Business
    Get short URL
    372

    DOHA (Sputnik) - Ecuador plans to begin the construction of an aluminium plant integrated in the hydroelectric plant on the Santiago River in June 2024, the Ecuadorian Foreign Trade and Investment Minister Pablo Campana said during a visit to Qatar.

    “At the end of March, we intend to invite various companies, including Russia’s Rusal, to Ecuador to discuss this project, the construction of which requires investments worth of $1.9 billion. We will launch this project by June 2024,” Campana told reporters on Sunday.

    The integrated project includes the aluminium plant and the Santiago hydroelectric power plant. It is planned that electricity will be exported to the Latin American market after ensuring the production of primary aluminium.

    Rusal, Russia’s aluminium giant, is a leading global aluminium producer, which employs over 61,000 people in 20 countries across five continents, in 2017, Rusal accounted for roughly 5.8 percent of global aluminium production. The company recently announced a 3.6-percent rise in last year’s earnings after ending the year with $1,222 billion in net profit.

    Related:

    Tajikistan Plans to Increase Production of Aluminum to 300,000 Tons by 2020
    US Files Complaint With WTO on Chinese Trade Practices in Aluminum Industry
    US to Keep Anti-Dumping Orders on Aluminum Extrusions From China
    Light Rider: Airmen 3D-Print World's First Motorcycle From Aluminum Powder
    Tags:
    aluminum, China, Ecuador
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment