It has signed an agreement the Irkutsk regional government to construct housing, social and engineering facilities in the Taishet municipal district. Both will also start mortgage programmes to help relocate employees.

The Irkutsk government will help with financial support, free land parcels required for the project, make provisions in the budget estimates for housing improvements and build infrastructure.

Rusal is building the 750kt/y Taishet smelter, which is financed directly from Rusal’s own cash flow with the project financing to be secured. The total cost for the 375kt/y first stage is $1.77bn, from which Rusal will invest $600M.

The success of the project requires the construction of external infrastructure including housing and social facilities such as schools, kindergartens, medical centres, which will be developed through public private partnerships.