Rusal could invest $600 mln in 2014 - CFO
MOSCOW. March 18 (Interfax) - UC Rusal plans to invest up to $600 million this year, as in 2013, the aluminum giant's CFO, Alexandra Buriko, told Interfax.
"This will mostly be maintenance capex, but we also have high-margin projects to produce value-added goods like alloys, ingots and wire-bars. Such projects have a fast recoupment period. Thirdly, there is the environmental performance of our smelters," she said.
Buriko said Rusal was carrying out programs to reduce smelter emissions. The Krasnoyarsk smelter, for example, is implementing an EcoSoederberg project and the Bratsk smelter is expected to follow suit.
"To carry the investment programs out we are trying to raise finance, where possible. There are several good projects to produce value-added goods, where we work according by off-take arrangements - Rusal receives payment in advance, then the company carries the project out and settles partly with the goods produced without having to divert funds from operating cash flow," Buriko said.