RUSAL, a global leading aluminum producer in Russia, planned to double the production capacity at its Boguchansky aluminum smelter in Siberia to 600,000 tons by 2030, according to the Krasnoyarsk government.

The production line at the Boguchansky smelter was launched in 2019, with an investment of US$1.6 billion. The initial estimated cost for the full capacity would be US$2.6 billion.

RUSAL Vice President Elena Bezdenezhnykh said that the construction work at the Boguchansky smelter was scheduled to start in 2025. The expansion plan was confirmed by the company representative, who added that the financial model and investment amounts would be recalculated before the end of this year.

RUSAL foresaw there would be a global aluminum surplus of roughly 500,000 tons in 2024 and 200,000 to 300,000 tons in 2025.