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Recently, Rusal and ELKA-Cable Cable Company, one of the main cable manufacturers in the CIS, signed a cooperation agreement
.
The two sides said they will cooperate in the construction of a new cable production plant, the Bogoslovsk aluminum cable factory
.
According to the agreement, the two parties will each hold 50% of the shares and jointly spend 19 million US dollars to build the new Bogoslovsk cable plant
.
The site will be located near Rusal's existing Bogoslovsk aluminum plant, which will be mainly used to produce aluminum wire aluminum cable products such as insulated cables, submarine cables and flexible cables for the Russian and CIS markets
.
Alexey Arnautov, head of the new project at Rusal, said that the joint cable plant was built to further increase their share of
the wire and cable market.
The construction of the new plant will also play a positive role
in promoting local economic and social development.
This project is expected to lead to more than 100 employment projects
.
According to the plan, the Bogoslovsk aluminum cable plant will start construction
at the end of this year.
After start-up, the plant will further expand its product offering, including copper wire and copper cable
.
