"In exchange for the investments, Rusal will receive a 40 percent stake in the new plant. 60 percent will be owned by Braidy Industries. After signing the tentative agreement, Rusal and Braidy Industries plan to raise funds in the financial markets," the statement read.
Goods to be produced at the plant will balance the deficit expected in production of rolled metal sheets for the US automotive industry.
The demand for the flat-rolled metal in North America has been actively growing over the last five years, and will expand globally in future, especially in the automotive sector, according to the company,
“The site selected for the plant will be located in close proximity to the manufacturers of auto parts and that will minimize the costs of transporting finished products,” the statement read.
Rusal plans to deliver aluminum for the US enterprise from its Tayshetsky plant in Siberia, which is currently under construction.